Maharashtra Government’s energy department and Adani Green Energy Group Ltd. (AGEL) signed a Memorandum of Understanding (MoU) on 28th June 2022 towards the generation of about 11,000 MW green energy in the next five years.
AGEL will be setting up *Pumped Storage Projects (PSPs) with an investment of about Rs. 60,000 crore. These projects will cumulatively generate 11,000 MW of green energy. This investment is also projected to generate 30,000 jobs in the state. According to the Maharashtra State Energy Department, the green energy thus generated will be helpful in case of immediate energy requirements during power shortages.
*In case of a Pumped Storage Project, water is transferred from a reservoir at a lower elevation to a reservoir at a higher elevation using electricity. This is done during low power demand when there is an energy surplus in the grid. When the grid needs to be fed power, the water stored in the higher reservoir is released onto the turbines, thus generating hydroelectricity.