Mumbai: The Maharashtra government has taken a significant step towards strengthening the state’s power infrastructure by signing a Memorandum of Understanding (MoU) worth Rs 8,000 crore with GSC PSP Maha Pvt Ltd, a Haryana-based company, for the Panchmauli-Devalipada Pumped Storage Hydroelectric Project in Dhule and Nandurbar districts.
The project, with a planned installed capacity of 1,500 MW, is expected to create around 2,500 jobs and will require approximately 19.29 TMC of initial water storage and 3.24 TMC annually for replenishment. It is projected to generate an annual revenue of over Rs 1,100 crore for the state, further boosting Maharashtra’s energy and economic landscape.
MoU Signed in Presence of Chief Minister
The agreement was formally signed at the Sahyadri Guest House, Mumbai, in the presence of Chief Minister Devendra Fadnavis. On behalf of the state, Additional Chief Secretary Deepak Kapoor signed the MoU, while Sumit Nanda, Chairman and Managing Director of GSC PSP Maha Pvt Ltd, represented the company.
Speaking at the occasion, CM Fadnavis emphasized the strategic importance of pumped storage projects for stabilizing the state’s and the national power grids. He highlighted that Maharashtra’s geography, particularly the Sahyadri ranges, is ideal for such hydro projects, which can significantly contribute to renewable energy integration and energy security.
Fast-Track Approvals for Hydro Projects
Fadnavis announced the government’s plans to establish a fast-track approval mechanism to ensure timely clearances for pumped storage hydro projects, covering aspects such as water usage and environmental clearances. “These measures will facilitate the swift development of renewable energy infrastructure and strengthen grid stability,” he said.
Expanding Renewable Energy Initiatives
The Chief Minister also spoke about the government’s ongoing 16 GW solar initiative aimed at meeting agricultural power requirements through renewable sources, reducing dependence on conventional electricity.
According to Deepak Kapoor, Maharashtra has already signed MoUs for 50 pumped storage projects, and with the addition of Panchmauli-Devalipada, the state now targets 51 projects. Collectively, these projects are expected to:
- Generate 70,315 MW of electricity
- Attract Rs 3.83 lakh crore in investments
- Create approximately 1.13 lakh employment opportunities
Strengthening Maharashtra’s Energy Future
The Panchmauli-Devalipada Pumped Storage Hydro Project marks a critical milestone in Maharashtra’s efforts to enhance renewable energy capacity, generate employment, and stabilize the power grid. The project reflects the state government’s vision of leveraging natural resources and innovative energy solutions to meet growing electricity demand sustainably.
