Maharashtra Powers Up: Rs 23,800 Crore Investment in Pumped Storage Projects

The Maharashtra government inked MoUs for major pumped storage hydroelectric projects, aiming for Rs 23,800 crore investment and 11,500 new jobs. The state's target is to be a pumped storage hub, reaching a 76,115 MW capacity. The projects harness natural advantages from the Western Ghats and dams.

The Maharashtra government has taken a significant step forward by signing memorandums of understanding with multiple companies to develop pumped storage hydroelectric projects. These agreements promise an investment influx of Rs 23,800 crore and the creation of 11,500 jobs, Chief Minister Devendra Fadnavis announced.

Maharashtra is poised to become India's epicenter for pumped storage, Fadnavis highlighted, as the state has achieved a remarkable potential of 76,115 MW through these projects. The newly signed projects will contribute an additional 5,800 MW to the state's already impressive power generation capacity.

The MoUs involve key projects like the Western Ghats Pumped Storage Project, Koyna Stage-6, and the Sarovar Pumped Storage Project. The agreements were made between the water resources department and companies such as JSW Neo Energy Ltd, Mahagenco Renewable Energy Ltd, and New Asian Infrastructure Development Pvt Ltd.

(With inputs from agencies.)