Maharashtra: Avaada To Build 3.6 GW Pumped Storage Projects

By Manish Kumar/ Updated On Tue, Apr 29th, 2025

Avaada Group on Tuesday signed a Memorandum of Understanding (MoU) with the Maharashtra government to develop two pumped storage hydro projects with a combined capacity of 3,650 megawatts.

The agreement, signed with the state’s Water Resources Department, was formalized in the presence of Maharashtra Chief Minister Devendra Fadnavis, along with senior government officials including Water Resources Minister Girish Mahajan, Minister Radhakrishna Vikhe Patil, and Chief Secretary Sujata Saunik.

Two Key PSPs Of Avaada

The two projects—Pawana-Falyan (2,400 MW) and Sirsala (1,250 MW)—are expected to attract a total investment of ₹15,100 crore and generate over 3,800 direct jobs, according to a statement from Avaada.

The company said the pumped storage systems will enhance Maharashtra’s energy security by facilitating round-the-clock renewable power, improving grid stability, and supporting the integration of clean energy sources into the state’s electricity mix.

Avaada MoU With Maharashtra

Chief Minister Fadnavis said the state aims to become a green energy hub and will ensure that signed MoUs translate into swift execution. “The Government will extend full support to developers to fast-track these transformational projects,” he said.

Avaada Group Chairman Vineet Mittal said the agreement marks a key milestone in India’s clean energy journey. “Pumped storage solutions are pivotal for maintaining grid reliability and round-the-clock availability of renewables,” he said.

India has committed to installing 500 GW of non-fossil fuel energy capacity by 2030 as part of its climate goals.