In a significant step towards renewable power generation, Avaada Group has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to commission two large size pumped storage plants. The deal foresees establishing the total capacity of 3,650 MW—2,400 MW at Pawana-Falyan and 1,250 MW at Sirsala.
This project is in line with India’s overall objective of raising renewable energy while maintaining grid stability. The investment has been estimated at ₹15,100 crore, and the projects will generate more than 3,800 direct employment opportunities in the state.
Project Details
The deal includes the construction of the 2,400 MW Pawana Falyan and 1,200 MW Sirsala projects. The projects cost a combined amount of ₹15,100 crore and will have the potential to create more than 3,800 jobs for the area directly.
Strategic Importance
These pumped storage projects are designed to enhance Maharashtra’s energy security by providing round-the-clock renewable power. They will support grid balancing operations and facilitate the seamless integration of clean energy into the state’s electricity mix.
Pumped storage is a form of hydroelectricity generation in which energy is stored by pumping water from a lower reservoir to a higher reservoir during off-peak hours. Water is let out to produce electricity during peak hours, making it highly ideal to manage intermittent renewable sources such as wind and sun.
These projects will allow Maharashtra to address cyclic fluctuations in supply of energy while supplementing supply of clean power during the day.
Government Support
Maharashtra Chief Minister Devendra Fadnavis reiterating the state’s resolve to make the state India’s Green Energy Hub promised complete government support to the developers to drive faster implementation of such pioneering projects.
Avaada Group’s Perspective
Avaada Group Chairman Vineet Mittal spoke of the importance of this partnership in securing India’s future through clean energy. He pointed out that pumped storage solutions are crucial to grid reliability and facilitating access to renewable energy around the clock.
This collaboration of Avaada Group with Maharashtra Government is a landmark in driving India’s renewable energy drive. The development of these pumped storage schemes will be instrumental in driving the country’starget of 500 GW of non-fossil fuel capacity by 2030.
