Avaada Signs MoU With Maharashtra For Two Hydro Projects

Integrated energy group Avaada announced on 29 April that it has signed an MoU with the Government of Maharashtra to develop two pumped storage hydro projects.

In a press release, Avaada group said the MoU, signed with the Water Resources Department of Maharashtra Government the two projects had a combined capacity of 3650 MW. The projects – 2400 MW Pawana Falyan and 1200 MW Sirsala – have a total investment of ₹15,100 crores. In addition, they are also expected to generate over 3,800 direct employment. They will also contribute towards providing round-the-clock power in Maharashtra, ensuring the seamless integration of clean energy into the state’s power mix.

Speaking on the occasion, Maharashtra Chief Minister Devendra Fadnavis said, “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.”

Commenting on the signing of MoU, Avaada Group Chairman Mr Vineet Mittal said. “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.”