Avaada Group has signed an initial agreement with the Maharashtra government to develop two large pumped storage hydro projects—Pawana-Falyan (2,400 MW) and Sirsala (1,200 MW)—with a combined capacity of 3,600 MW and an investment of Rs 151 billion. The projects are expected to create over 3,800 direct jobs and significantly enhance Maharashtra's renewable energy reliability.

According to the company, the projects will support grid balancing and enable round-the-clock renewable power availability, helping integrate clean energy into the state’s power system. The agreement was signed between Avaada and key state agencies including the Water Resources Department, MAHAGENCO, and its subsidiary MAHAREL.

Chief Minister Devendra Fadnavis said Maharashtra is committed to becoming the Green Energy Hub of India and assured full government support to fast-track the projects. He shared that a broader set of MoUs signed with public and private sector firms will help generate 8,905 MW of pumped storage capacity across multiple sites and attract Rs 572.6 billion in investments, generating around 9,200 employment opportunities.

MAHAGENCO will lead projects at Ghatghar (125 MW), Kodali (220 MW), Varasgaon (1,200 MW), and Panshet (1,600 MW), while MAHAREL will develop new storage at Muthkhed (110 MW), Nive (1,200 MW), and Varandha Ghat (800 MW). Avaada Aqua Batteries will be responsible for the Pawana-Falyan and Sirsala ventures.

CM Fadnavis highlighted that these advanced pumped storage systems are vital for supplying clean power to agriculture, industry, and commerce while helping Maharashtra reach its goal of deriving 50 per cent of energy capacity from renewable sources.