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MAHAGENCO REL Inks MoU for 400 MW Koyna Stage-6 Pumped Storage Project in Maharashtra

MAHAGENCO Renewable Energy (MAHAGENCO REL) has signed a memorandum of understanding with Maharashtra’s Water Resources Department to develop the 400 MW Koyna Stage-6 pumped storage hydropower project in Patan, Satara. The agreement was concluded in the presence of Chief Minister Devendra Fadnavis.

The project, with an investment of approximately Rs 2,800 crore, is expected to create nearly 2,500 employment opportunities. It is designed to significantly enhance the state’s energy storage capacity, supporting Maharashtra’s rapidly expanding renewable energy portfolio. With this new addition, MAHAGENCO REL’s total proposed pumped storage capacity in collaboration with the state government rises to 2,510 MW, including previously signed MoUs totalling 2,110 MW.

Harshal Bhaskare, CEO of MAHAGENCO Renewable Energy, noted in a social media post that the project represents a major step toward developing clean, reliable, and flexible power infrastructure. He emphasised that the MoU signifies not just an agreement, but a long-term commitment toward shaping India’s next-generation energy landscape.

The partnership highlights Maharashtra’s push to strengthen its renewable energy ecosystem and reaffirms MAHAGENCO REL’s dedication to delivering sustainable and resilient power solutions across the state.