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Avaada Group, a prominent integrated energy company, has signed a Memorandum of Understanding (MoU) with the Water Resources Department of the Government of Maharashtra to develop two major Pumped Storage Hydro Projects. These projects will have a combined capacity of 3,650 megawatts (MW), marking a major step forward in strengthening India’s renewable energy and energy storage infrastructure. The MoU was formalized in the presence of several senior government officials, including Shri Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra; Shri Girish Mahajan, Cabinet Minister of the Water Resources Department; Shri Radhakrishna Vikhe Patil, Minister for Water Resources (Godavari & Krishna Valley Development Corporation); Ms. Sujata Saunik, Chief Secretary, Government of Maharashtra; Shri Deepak Kapoor, Additional Chief Secretary, Water Resources Department; and Ms. Abha Shukla, Additional Chief Secretary, Energy Department. The two projects include the 2,400 MW Pawana Falyan project and the 1,200 MW Sirsala project. Together, they will require a total investment of approximately ?15,100 crore and are expected to generate over 3,800 direct employment opportunities. These large-scale pumped storage facilities will enhance Maharashtra’s ability to maintain grid stability and ensure round-the-clock availability of renewable energy. By storing excess renewable energy during low demand and releasing it during peak periods, these systems help in better managing supply and demand across the grid. On this occasion, the Hon’ble Chief Minister of Maharashtra, Shri Devendra Fadnavis, highlighted the state’s dedication to leading the way in clean energy in India. He said, “Maharashtra aims to become the Green Energy Hub of India. All signed MoUs must translate into swift execution on the ground, and the Government will ensure complete support to developers to fast-track these transformational projects.” Shri Vineet Mittal, Chairman, Avaada Group, mentioned, “This agreement is a decisive step towards securing India’s clean energy future. Pumped storage solutions are pivotal for maintaining grid reliability and ensuring renewable energy availability round-the-clock. We are honored to partner with the Government of Maharashtra in this journey towards a sustainable and prosperous future.” Beyond addressing energy storage needs, the projects will support the state’s clean energy goals, drive regional development, and contribute to India’s national objective of achieving 500 GW of non-fossil fuel energy capacity by the year 2030. This move reflects India’s broader commitment to sustainable growth and leadership in the global transition to clean energy. The partnership between Avaada Group and the Government of Maharashtra is an example of how public-private collaboration can accelerate progress in renewable energy. It underscores Maharashtra’s focus on sustainable energy development and Avaada’s continued efforts to drive India’s energy transformation through innovative and impactful initiatives. |
