Avaada Group Inks with Maharashtra Government to Establish 3,650 MW Pumped Storage Projects

Avaada Group today said that it has entered into an initial agreement with the Maharashtra government for the development of two pumped storage projects in the state, with a combined capacity of 3,600 MW. The two significant pumped storage hydro projects—Pawana Falyan (2,400 MW) and Sirsala (1,200 MW)—will involve a total investment of Rs 15,100 crore. The company also stated that the projects are expected to create over 3,800 direct job opportunities.

These pumped storage projects will be pivotal in enhancing Maharashtra's energy security by providing continuous renewable power, aiding grid stability, and facilitating the smooth integration of clean energy into the state's overall power mix, according to the company. Maharashtra Chief Minister Devendra Fadnavis reaffirmed the state's dedication to establishing itself as the clean energy capital of India.

Fadnavis stated, "Maharashtra is committed to becoming India's leading hub for green energy. All signed memoranda of understanding (MoUs) must be swiftly translated into action, and the government will extend full support to developers to accelerate the implementation of these transformative projects."

Vineet Mittal, Chairman of Avaada Group, stated, "This agreement marks a significant milestone in securing India's clean energy future. Pumped storage solutions play a crucial role in enhancing grid reliability and ensuring a consistent, round-the-clock availability of renewable energy."