Avaada Group, Maharashtra government ink pact to set up 3,600 megawatts (MW) pumped storage projects at Rs. 15,100 crore (US$ 1.77 billion)

Avaada Group announced on April 29, 2025, that it has signed an initial agreement with the Maharashtra government to develop two pumped storage projects in the state, with a combined capacity of 3,600 megawatts (MW). The projects, which include the 2,400 MW Pawana Falyan and the 1,200 MW Sirsala, will require a cumulative investment of Rs. 15,100 crore (US$ 1.77 billion). As stated by the company, these initiatives are expected to create over 3,800 direct employment opportunities.

The pumped storage projects are vital in enhancing Maharashtra’s energy security by enabling 24/7 renewable power, supporting grid balancing, and facilitating the smooth integration of clean energy into the state's power grid. Maharashtra Chief Minister, Mr. Devendra Fadnavis, reiterated the state's commitment to becoming India’s clean energy capital, emphasising that signed memoranda of understanding (MoUs) must be swiftly executed. He assured the government would fully support developers in expediting these transformative projects. Chairman of Avaada Group, Mr. Vineet Mittal, highlighted that this agreement marks a significant step towards securing India's clean energy future, as pumped storage solutions are crucial for ensuring grid reliability and uninterrupted renewable energy supply.

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