Avaada Group Partners with Maharashtra to Develop 3,650 MW Pumped Storage Projects – EQ
In Short : Avaada Group signed an MoU with the Maharashtra government to develop 3,650 MW of pumped storage projects at Pawana Falyan and Sirsala, with a ₹15,100 crore investment. The projects aim to support round-the-clock renewable energy, create 3,800 jobs, and align with India’s 500 GW clean energy goal by 2030.
In Detail : Avaada Group signed a Memorandum of Understanding (MoU) with the Maharashtra government to establish two significant pumped storage projects with a combined capacity of 3,650 MW. The projects, located at Pawana Falyan and Sirsala, are set to require a total investment of ₹15,100 crore. This collaboration marks a major step in Maharashtra’s commitment to expanding its renewable energy infrastructure.
The Pawana Falyan project will contribute 2,400 MW, while the Sirsala project will add 1,200 MW to the state’s energy capacity. The projects are expected to generate over 3,800 direct employment opportunities, providing a substantial boost to the local economy. This partnership underscores the growing importance of pumped storage as a key technology for balancing renewable energy generation.
Maharashtra’s Chief Minister, Devendra Fadnavis, emphasized the state’s resolve to become India’s Green Energy Hub. He assured that the government would provide full support to developers, ensuring the rapid execution of such transformative projects. Fadnavis stressed that all signed MoUs must lead to quick ground-level implementation.
Vineet Mittal, Chairman of Avaada Group, expressed confidence in the collaboration, highlighting that pumped storage solutions are crucial for ensuring grid reliability. Mittal explained that these projects would play a pivotal role in maintaining a steady supply of renewable energy, especially for periods of fluctuating power generation from renewable sources.
The pumped storage facilities will enable Maharashtra to store excess energy generated during off-peak hours and release it during peak demand times, thus providing round-the-clock renewable power. This integration will support grid balancing and ensure a more sustainable energy mix for the state.
This partnership aligns with India’s broader goals for energy transition, particularly its target of achieving 500 GW of non-fossil fuel energy capacity by 2030. The MoU is expected to contribute significantly to the country’s leadership in the global clean energy landscape, reinforcing India’s commitment to renewable energy and climate change mitigation.
