Maharashtra government’s Water Resources Department signed MoUs with several companies for pumped storage hydroelectric projects, involving an investment of Rs 23,800 crore and the potential to create 11,500 jobs.
Chief Minister Devendra Fadnavis said that Maharashtra aims to become the country’s hub for pumped storage and announced that the state has already achieved a potential of 76,115 MW in generation capacity through such projects.
Speaking at the signing of three major memorandums of understanding for pumped storage hydropower (PSH), he highlighted that the new projects will add 5,800 MW to the state’s power generation capacity.
The MoUs, which involve an investment of Rs 23,800 crore and are expected to create 11,500 jobs, were signed for the Western Ghats Pumped Storage Project (Pune and Raigad districts), Koyna Stage-6 Pumped Storage Project (Satara district), and Sarovar Pumped Storage Project (Ahilyanagar district) between the Water Resources Department and JSW Neo Energy Ltd, Mahagenco Renewable Energy Ltd, and New Asian Infrastructure Development Pvt Ltd, according to a statement.
Fadnavis noted that Maharashtra’s pumped storage potential remains ahead of other states due to the natural advantage of the Western Ghats and a strong network of large dams. “Pumped storage projects will be crucial to balance the unpredictability of renewable energy,” he said, adding that support from the central government is helping to accelerate project development.
The CM also stated that the state has so far signed 54 MoUs for pumped storage hydropower projects, which are expected to generate 76,115 MW, attract investments worth Rs 4.06 lakh crore, and create around 1.25 lakh employment opportunities.
Pumped storage projects work by moving water between two reservoirs at different elevations to store energy and generate electricity. These plants use gravity to produce electricity with water that has been previously pumped from a lower reservoir to an upper one.
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