Maha govt signs MoUs for pumped storage hydropower projects with Rs 31,955 crore investment

Mumbai, July 15 Maharashtra Water Resources Department on Tuesday signed four MoUs for the development of pumped storage hydropower projects with a total generation capacity of 6,450 megawatt, entailing an investment of Rs 31,955 crore in the state, which will generate 15,000 jobs.

The MoUs were signed with Greenco MH-01 IREP Pvt. Ltd (2,000 MW), Ritwik Kolhapur PSP Pvt. Ltd (1,200 MW), Adani Hydro Energy Ten Limited (1,500 MW) and May Waterfront Construction Pvt. Ltd (1,750 MW).

“These MoUs will give a big boost to renewable energy generation as well as industrial and social development. Maharashtra has become a leading state in the country in pumped storage hydro power projects,” said the Chief Minister.

He said that Maharashtra has adopted a very dynamic pumped storage policy and has taken the lead in the entire country in terms of the number of projects, investment and proposed power generation.

“We are moving towards renewable energy. Prime Minister Narendra Modi has set a goal to make India a 'Net-Zero' country. Maharashtra is moving towards that. For this, we have decided to get more than 50 per cent of electricity from renewable sources by 2030. Emphasis is being placed on power generation through solar energy and pumped storage, and this system of pumped storage will be useful in maintaining grid stability and a large amount of investment has started in solar energy in Maharashtra. Apart from this, work is also underway in the field of other alternative power generation,” he added.

The Chief Minister said that in the states of Gujarat and Rajasthan, due to geographical conditions, it is possible to generate 1 lakh MW of solar energy.

“However, in Maharashtra, due to geographical limitations, only 30,000 to 50,000 MW of solar energy is possible. Due to biodiversity and the Sahyadri mountain ranges that Maharashtra enjoys, there is huge potential in the pumped storage sector, and this potential is being utilised. The Water Resources Department has set a long-term goal of 1 lakh MW of pumped storage projects, and given the response received from various industry groups, this goal is likely to be achieved,” he remarked.

According to the water resources minister Girish Mahajan, as per the pumped storage hydro power project policy rent payable is Rs 11.33 lakh per MW per year for using the reservoir, water charges as per industrial rates, and annual rent of the premises as per prevailing rates.

“Earlier, the Water Resources Department had signed agreements with 16 different agencies for 46 projects. After today's agreements, a total of 50 projects have been signed, which will generate 68,815 MW of power, an investment of Rs 3.75 lakh crore, and 1.11 lakh employment opportunities,” said the minister.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor