Avaada Group Partners with Maharashtra for Major Pumped Storage Projects

Avaada Group has signed a pact with the Maharashtra government to develop two pumped storage projects, totaling 3,600 MW. This initiative involves a Rs 15,100 crore investment and aims to enhance the state's energy security by integrating renewable power. The move supports Maharashtra's goal to be India's Green Energy Hub.

The Avaada Group announced on Tuesday that it has entered into an agreement with the Maharashtra government to develop two significant pumped storage projects with a combined capacity of 3,600 megawatts.

The projects, anticipated to cost Rs 15,100 crore, consist of the 2,400 MW Pawana Falyan and 1,200 MW Sirsala. These ventures are expected to create over 3,800 direct jobs, as outlined in the company's statement.

The investments aim to fortify Maharashtra's energy security, facilitating renewable power availability around the clock, balancing the grid, and incorporating clean energy into the state's electricity supply. Chief Minister Devendra Fadnavis highlighted Maharashtra's ambition to become India's Green Energy Hub, promising swift project execution support.

(With inputs from agencies.)