Did the Maha govt sign MoUs for pumped storage hydropower projects worth Rs 31,955 crore?
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Synopsis
Maharashtra's recent signing of MoUs for pumped storage hydropower projects is set to transform its energy landscape, generating thousands of jobs while boosting renewable energy generation. This initiative could position the state as a leader in sustainable energy.
Key Takeaways
- Maharashtra signs MoUs for pumped storage hydropower projects.
- Investment of Rs 31,955 crore will be made.
- Projects expected to generate 15,000 jobs.
- Capacity of 6,450 MW is planned for renewable energy generation.
- Long-term goal of 1 lakh MW of pumped storage projects set.
Mumbai, July 15 (NationPress) The Maharashtra Water Resources Department has officially signed four Memoranda of Understanding (MoUs) aimed at developing pumped storage hydropower projects with a combined generation capacity of 6,450 megawatts. This initiative represents a significant investment of Rs 31,955 crore in the state, which is expected to create 15,000 jobs.
The MoUs involve partnerships with Greenco MH-01 IREP Pvt. Ltd (2,000 MW), Ritwik Kolhapur PSP Pvt. Ltd (1,200 MW), Adani Hydro Energy Ten Limited (1,500 MW), and May Waterfront Construction Pvt. Ltd (1,750 MW).
According to the Chief Minister, “These agreements will significantly enhance renewable energy production while fostering both industrial and social growth. Maharashtra is now at the forefront of pumped storage hydropower projects in India.”
The Chief Minister emphasized that the state has adopted an innovative pumped storage policy, leading the nation in the number of projects, investments, and proposed power generation capacities.
“We are committed to advancing towards renewable energy. Prime Minister Narendra Modi has set a vision for India to become a 'Net-Zero' nation. Maharashtra is actively working towards this goal, aiming to source over 50 percent of its electricity from renewable sources by 2030. We are focusing on energy generation through solar power and pumped storage, which will aid in maintaining grid stability,” he added.
The Chief Minister further stated that while states like Gujarat and Rajasthan can generate 1 lakh MW of solar energy due to their geography, Maharashtra's potential is limited to 30,000 to 50,000 MW. Nevertheless, the state's diverse biodiversity and the Sahyadri mountain ranges offer substantial potential for pumped storage, and the Water Resources Department has set a long-term target of achieving 1 lakh MW from pumped storage projects.
Water Resources Minister Girish Mahajan noted that under the pumped storage hydro power project policy, the annual rent for using the reservoir is Rs 11.33 lakh per MW, along with water charges at industrial rates and annual rent according to current rates.
“Previously, the Water Resources Department had signed agreements with 16 different entities for 46 projects. With today's agreements, we now have a total of 50 projects, which will produce 68,815 MW of power, requiring an investment of Rs 3.75 lakh crore and creating 1.11 lakh job opportunities,” the minister said.
Point of View
Maharashtra's push for pumped storage hydropower is commendable. It indicates a strong commitment to renewable energy, aligning with national goals for sustainability. This initiative not only promises to create jobs but also demonstrates Maharashtra's leadership in the energy sector, setting an example for other states.
NationPress
17/07/2025
Frequently Asked Questions
What are the benefits of the pumped storage hydropower projects?
These projects will boost renewable energy generation, create thousands of jobs, and enhance grid stability in Maharashtra.
How much investment is being made in these projects?
The total investment for the pumped storage hydropower projects is Rs 31,955 crore.
How many jobs will these projects create?
An estimated 15,000 jobs will be generated as a result of these projects.
Who are the partners involved in these MoUs?
The MoUs were signed with Greenco MH-01 IREP Pvt. Ltd, Ritwik Kolhapur PSP Pvt. Ltd, Adani Hydro Energy Ten Limited, and May Waterfront Construction Pvt. Ltd.
What is the capacity of the pumped storage projects?
The total generation capacity of the signed projects is 6,450 megawatts.
