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The Maharashtra government has signed a Memorandum of Understanding (MoU) with Haryana-based GSC PSP Maha Pvt Ltd for the Panchmauli-Devalipada Pumped Storage Hydroelectric Project in Dhule and Nandurbar districts. Valued at INR 8,000 crore, the initiative is set to generate 1,500 MW of power and create 2,500 jobs. The project is also anticipated to contribute around INR 1,100 crore in annual revenue, bolstering the state's renewable energy infrastructure and economic growth.
The Maharashtra government recently entered into an MoU worth INR 8,000 crore with GSC PSP Maha Pvt Ltd of Haryana to develop the Panchmauli-Devalipada Pumped Storage Hydroelectric Project across Dhule and Nandurbar districts. With an installed capacity of 1,500 MW, the project is projected to generate employment for around 2,500 people and utilise 19.29 TMC of initial water storage, requiring 3.24 TMC annually for replenishment. The venture is estimated to yield more than INR 1,100 crore in yearly revenue for the state. Advertisement
The agreement was formalised at the Sahyadri Guest House in Mumbai in the presence of Chief Minister Shri Devendra Fadnavis. It was signed by Additional Chief Secretary Deepak Kapoor and Sumit Nanda, Chairman and Managing Director of GSC PSP Maha Pvt Ltd.
During the event, the Chief Minister remarked that the state government would create a fast-track system to ensure time-bound clearances for pumped storage hydroelectric projects, covering both water usage and environmental permissions. He observed that Maharashtra's geographical characteristics, particularly within the Sahyadri ranges, were ideal for developing such projects, which could help stabilise the power grid. The state, he noted, had set a target of establishing approximately 100,000 MW capacity through these ventures to reinforce both state and national power systems.
Fadnavis further mentioned that the government was executing Asia's largest solar power project aimed at meeting agricultural energy needs through renewable sources. This solar initiative seeks to generate 16 gigawatts of distributed capacity, thereby reducing reliance on conventional energy supplies.
Kapoor stated that MoUs for 50 pumped storage projects had already been signed, with efforts in progress to accelerate their implementation. With the latest agreement, he added, 51 such projects would collectively generate around 70,315 MW of electricity, attract INR 3.83 lakh crore in investment, and create nearly 1.13 lakh employment opportunities.
The collaboration between the Maharashtra government and GSC PSP Maha Pvt Ltd signifies a significant step in the state's transition towards sustainable energy. By prioritising hydro and solar projects, the administration aims to strengthen its renewable power capacity, boost employment, and enhance revenue generation. With over 50 pumped storage projects now under agreement, Maharashtra is positioning itself as a leader in the renewable energy sector, advancing India's broader green energy goals.
Source - PTI
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