Maharashtra Aims to Become Pumped Storage Hub with Rs 23800 Crore Investment and Job Creation

The Maharashtra government has entered into agreements with several companies for pumped storage hydroelectric projects. These projects involve an investment of Rs 23,800 crore and are expected to generate 11,500 jobs. Chief Minister Devendra Fadnavis stated that Maharashtra aims to become a hub for pumped storage, with a potential generation capacity of 76,115 MW already achieved through these projects.

The recent memorandums of understanding (MoUs) were signed for three significant projects: the Western Ghats Pumped Storage Project in Pune and Raigad districts, the Koyna Stage-6 Pumped Storage Project in Satara district, and the Sarovar Pumped Storage Project in Ahilyanagar district. These agreements were made between the water resources department and companies such as JSW Neo Energy Ltd, Mahagenco Renewable Energy Ltd, and New Asian Infrastructure Development Pvt Ltd.

Pumped Storage Potential and Investments

Maharashtra's natural landscape, particularly the Western Ghats and its extensive dam network, gives it an edge in pumped storage potential. The Chief Minister highlighted that these projects are essential for balancing the variability of renewable energy sources. He also mentioned that support from the central government is accelerating project development.

Fadnavis shared that Maharashtra has already signed 54 MoUs for pumped storage hydropower projects. These initiatives are projected to generate 76,115 MW of power, attract investments worth Rs 4.06 lakh crore, and create approximately 1.25 lakh jobs. The new projects will contribute an additional 5,800 MW to the state's power capacity.

Understanding Pumped Storage Projects

Pumped storage facilities operate by moving water between two reservoirs at different heights to store energy and produce electricity. Water is pumped from a lower reservoir to a higher one when energy demand is low. During peak demand periods, the stored water is released back down to generate electricity using gravity.

The Chief Minister emphasised Maharashtra's leadership in harnessing pumped storage potential due to its geographical advantages. He reiterated that these projects are crucial for stabilising renewable energy supply and meeting future energy demands efficiently.

These developments mark a significant step towards enhancing Maharashtra's energy infrastructure while creating substantial employment opportunities across the state.

With inputs from PTI