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2w ago

Maharashtra Expands Pumped Storage Pipeline to 68,815 MW With Four New MoUs

The agreements commit Rs 31,955 crore; they promise 15,000 jobs under a policy that uses the Sahyadri terrain to stabilize the grid on the way to more than 50% renewable power by 2030.

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Overview

  • Maharashtra’s Water Resources Department signed four MoUs today to develop 6,450 MW of pumped storage capacity with an investment of Rs 31,955 crore.
  • Deals were struck with Greenco MH-01 IREP Pvt. Ltd., Ritwik Kolhapur PSP Pvt. Ltd., Adani Hydro Energy Ten Ltd. and May Waterfront Construction Pvt. Ltd.
  • Today’s agreements bring the total to 50 pumped storage projects amounting to 68,815 MW of capacity, Rs 3.75 lakh crore in committed investment and potential for 1.11 lakh jobs.
  • Under the state’s pumped storage policy, developers will pay annual reservoir rent of Rs 11.33 lakh per MW, industrial‐rate water charges and land leases at prevailing rates.
  • The state leverages its Sahyadri mountain range to balance intermittent solar output and accelerate progress toward its goal of over 50% renewable electricity by 2030.