Avaada Group has signed a Memorandum of Understanding (MoU) with the Water Resources Department of the Maharashtra government to develop two pumped storage hydroelectric projects with a combined capacity of 3650MW.
The agreement was signed in the presence of Maharashtra Chief Minister Devendra Fadnavis, along with Water Resources Minister Girish Mahajan, Minister Radhakrishna Vikhe Patil, Chief Secretary Sujata Saunik, Additional Chief Secretary of the Water Resources Department Deepak Kapoor, and Additional Chief Secretary of the Energy Department Abha Shukla.
The two projects – Pawana Falyan (2400MW) and Sirsala (1 200MW) – are expected to involve a total investment of ₹15,100 crore and generate more than 3,800 direct jobs.
The projects are designed to improve Maharashtra’s energy security by enabling consistent renewable power supply, grid stability, and better integration of clean energy into the state’s electricity network. They also support India’s national goal of achieving 500GW of non-fossil fuel energy capacity by 2030.
“Maharashtra aims to become the Green Energy Hub of India. All signed MoUs must translate into swift execution on the ground, and the Government will ensure complete support to developers to fast-track these transformational projects,” said Chief Minister Devendra Fadnavis.
Vineet Mittal, Chairman of Avaada Group, added: “This agreement is a decisive step towards securing India’s clean energy future. Pumped storage solutions are pivotal for maintaining grid reliability and ensuring renewable energy availability round-the-clock. We are honored to partner with the Government of Maharashtra in this journey towards a sustainable and prosperous future.”
