In a statement, Avaada said the deal was signed between the Water Resources Department, Government of Maharashtra and Avaada Aqua Batteries Pvt Ltd, a subsidiary of Avaada Group. The two projects will include the 1,500 MW Pawana Falyan PSP in the Pune and Raigad districts, and the 1,250 MW Kumbhavade PSP in the Kolhapur and Ratnagiri districts.
These projects have a total investment of approximately $168.67b (INR14,000 crore) over the next five to seven years.
“The adoption of advanced pumped storage technology will significantly reduce carbon emissions, aligning with both state and national goals for a greener future,” Avaada said.
Aside from this, Avaada is also developing other renewable energy projects in Maharashtra, such as decentralised agricultural solar photovoltaic projects, solar and wind hybrid installations, and green hydrogen.
