Wedoany.com Report-May 7, Avaada Group, a renewable energy company, has entered into a memorandum of understanding with the Water Resources Department of the Government of Maharashtra to develop pumped storage hydro projects with a total capacity of 3,650 megawatts (MW). The agreement focuses on advancing sustainable energy infrastructure in the region.
The initiative includes two major projects: the 2,400 MW Pawana Falyan project and the 1,200 MW Sirsala project. Avaada estimates a combined investment of INR 15,100 crores for these developments, which are expected to create over 3,800 direct jobs. The projects aim to enhance local economic growth while supporting India’s renewable energy objectives.
Avaada highlighted the broader impact of the projects: “In addition to driving sustainable development and regional economic growth, the projects reinforce India’s national target of achieving 500 gigawatts of non-fossil fuel energy capacity by 2030.” These efforts align with the country’s commitment to expanding clean energy sources and reducing reliance on fossil fuels.
The pumped storage hydro projects will play a key role in stabilizing the energy grid by storing excess power and releasing it during peak demand. By leveraging Maharashtra’s water resources, the projects will contribute to a reliable and sustainable energy supply. The collaboration between Avaada and the state government underscores a shared commitment to environmental sustainability and economic development.
This partnership marks a significant step toward achieving India’s renewable energy goals. The Pawana Falyan and Sirsala projects are poised to deliver substantial benefits, including job creation, enhanced energy security, and progress toward a cleaner energy future for the region and the nation.
