Avaada Group has signed a Memorandum of Understanding (MoU) with Maharashtra’s Water Resources Department to develop two major pumped storage hydro projects with a combined capacity of 3,650 MW in the state.
Avaada, an integrated energy enterprise, will develop 2.4 GW Pawana Falyan and 1.2 GW Sirsala pumped storage projects with a cumulative investment of INR 15,100 crore. These projects are expected to generate over 3,800 direct employment opportunities.
Avaada stated lthese pumped storage initiatives will play a critical role in strengthening Maharashtra’s energy security by enabling round-the-clock renewable power, supporting grid balancing, and ensuring the seamless integration of clean energy into the state’s power mix.
On this occasion, chief minister of Maharashtra Devendra Fadnavis said, “Maharashtra aims to become the Green Energy Hub of India. All signed MoUs must translate into swift execution on the ground, and the Government will ensure complete support to developers to fast-track these transformational projects.”
Vineet Mittal, chairman, Avaada Group, added, “This agreement is a decisive step towards securing India’s clean energy future. Pumped storage solutions are pivotal for maintaining grid reliability and ensuring renewable energy availability round-the-clock. We are honored to partner with the Government of Maharashtra in this journey towards a sustainable and prosperous future.”
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Avaada Group’s collaboration with the Maharashtra government marks a pivotal moment in India’s renewable energy journey. These pumped storage projects will facilitate round-the-clock renewable power, supporting grid balancing and ensuring the seamless integration of clean energy into the state’s power mix.