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Maharashtra Inks INR 8,000 Crore Deal for 1,500 MW Pumped Storage Project

In a major step toward strengthening its renewable energy and storage infrastructure, the Government of Maharashtra has signed a Memorandum of Understanding (MoU) with GSC PSP Maha to develop the 1,500 MW Panchmauli–Deolipada Pumped Storage Project across the Dhule and Nandurbar districts.

The agreement, valued at approximately INR 8,000 crore, was formalized in the presence of Chief Minister Devendra Fadnavis and represents the state’s 51st pumped storage project. The initiative is designed to enhance grid reliability, support renewable energy integration, and create significant employment opportunities within the state.

Speaking at the signing ceremony, Chief Minister Fadnavis emphasized that all necessary clearances — including those related to water usage and environmental approvals — will be expedited through a fast-track approval process to accelerate project execution.

“Maharashtra is targeting 1 lakh MW of capacity through pumped storage projects to ensure grid stability and reinforce the national power grid,” Fadnavis said. “The Sahyadri mountain ranges provide the perfect geographical conditions to host these large-scale energy storage projects.”

The Chief Minister further highlighted the state’s parallel progress in solar power, noting that Asia’s largest solar initiative, with 16 GW of distributed capacity, is underway to supply the entire agricultural power demand through renewable energy.

“With these projects, Maharashtra is setting new standards in clean energy adoption and sustainable development, positioning itself as a frontrunner in India’s green transition,” he added.

The Panchmauli–Deolipada project adds to Maharashtra’s growing portfolio of pumped storage and solar ventures, reflecting its long-term commitment to energy security, sustainability, and innovation in the power sector.