Avaada, Maharashtra Sign Pact for Pumped Storage Projects

06 May 2025 CW Team

Avaada Group has signed a memorandum of understanding with the Maharashtra government to develop two pumped storage hydro projects with a combined capacity of 3,600 megawatts (MW). The total investment is estimated at Rs 151 billion.

The projects include the 2,400 MW Pawana Falyan facility and the 1,200 MW Sirsala facility. According to Avaada, the developments are expected to generate more than 3,800 direct employment opportunities and contribute to Maharashtra’s ambition of becoming a leading clean energy hub.

These pumped storage projects are designed to enhance the state's energy security by providing round-the-clock renewable power, supporting grid balancing, and integrating clean energy into the power system.

The agreement was signed between Avaada and multiple state agencies, including the Water Resources Department, Maharashtra State Power Generation Company (MAHAGENCO), and Mahagenco Renewable Limited (MAHAREL).

Chief Minister Devendra Fadnavis confirmed that the broader plan includes pumped storage projects totalling 8,905 MW with Rs 572.6 Bn in investment and the creation of around 9,200 jobs. Sites include Ghatghar, Kodali, Varasgaon, and Panshet among others.

The state aims to generate 50 per cent of its total energy capacity from renewable sources.

Source:Press Trust of India (PTI)

Infrastructure Transport

04 Jun 2026

Delhi Airport to Finalise 20-Year Master Plan

Delhi International Airport Ltd (DIAL) is finalising a 20-year master plan to guide long term infrastructure and operational development at Indira Gandhi International Airport, an official said. The operator expects the plan to reflect changes in the airline industry, shifts in the competitive landscape and evolving infrastructure requirements across terminals, airside and support services. The official said the document is likely to be ready in the next two to two-and-a-half months as the operator moves through planning stages. The plan will be prepared after consultations with airport users ..

Aadhar Housing Finance Targets Rs 500 bn AUM By FY29

Aadhar Housing Finance has set a target to raise its asset under management to Rs 500 billion (bn) by the end of FY29, aiming to achieve this over the next three financial years through an 18-20 per cent loan growth trajectory. The firm focuses on the low-income segment with a ticket size of less than Rs 1.5 million (mn) and has relied on that segment to drive expansion. The company closed FY26 with an AUM of Rs 305.71 bn, reflecting the expansion in recent years, and it reported a net profit rise of 22 per cent to Rs 11.08 bn. Management indicated that gross non-performing assets stood at 1.0..

Government to Launch Coal Gasification Urea Policy

The government will unveil a coal gasification based policy for urea production within one month, aiming to promote the use of domestic coal feedstock in synthetic fertiliser manufacture. The move seeks to enhance self reliance in fertiliser supply and to provide an alternative route to natural gas based synthesis. Officials said the policy will set out technical standards, permitting norms and incentives for projects that adopt coal gasification technology. It will aim to attract investments from both public sector undertakings and private manufacturers. The scheme will address logistical and..