Maharashtra Signs MoUs for Pumped Storage Projects worth 23,800 Cr.

Water Resources Department of Maharashtra has signed Memorandum of Understanding (MoUs) with JSW Neo Energy Ltd, Mahagenco Renewable Energy Ltd, and New Asian Infrastructure Development Pvt Ltd for the development of Pumped Storage Projects (PSPs) across the state.

These agreements have been signed for the Western Ghats Pumped Storage Project located in Pune and Raigad districts, the Koyna Stage-6 Pumped Storage Project in Satara district, and the Sarovar Pumped Storage Project in Ahilyanagar district.

As per several media reports, these pumped storage projects will be developed with a total investment of Rs. 23,800 crore. The combined installed capacity of these pumped storage projects is expected to be around 5,800 MW. Additionally, the development of these projects is projected to generate nearly 11,500 employment opportunities within the state.

So far, the Maharashtra government has signed a total of 54 MoUs for pumped storage hydropower projects, which are expected to generate an overall power generation capacity of 76,115 MW. These projects are anticipated to attract a total investment of Rs. 4.06 lakh crore and are expected to provide employment to around 1.25 lakh people across Maharashtra.