Avaada Group signs MoU with Maharashtra govt to set up 3,650 MW pumped storage projects
Mumbai:
Avaada Group
on Tuesday said it has signed a Memorandum of Understanding (MoU) with the Water Resources Department, Government of Maharashtra, to develop two pumped storage
hydro projects
with a combined capacity of 3,650 MW.
According to the official press release, the two projects – 2,400 MW Pawana Falyan and 1,200 MW Sirsala – will see an investment of ₹15,100 crore and are expected to generate over 3,800 direct employment opportunities.
'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,' said Chief Minister of Maharashtra Devendra Fadnavis.
The release added that these pumped storage initiatives will play a critical role in strengthening the state's
energy security
by enabling round-the-clock
renewable power
, supporting grid balancing, and ensuring the seamless integration of
clean energy
into the state's power mix.
Vineet Mittal, Chairman, Avaada Group said that this agreement is a decisive step towards securing India's clean energy future and added that pumped storage solutions are pivotal for maintaining grid reliability and ensuring renewable energy availability round-the-clock.
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