The Department of Water Resources, Government of Maharashtra, and NHPC Limited have signed a Memorandum of Understanding (MoU) to develop pumped storage projects with a total capacity of 7350 MW in Maharashtra, India. The MoU, signed in Mumbai, aims to advance the state’s energy infrastructure in line with the Maharashtra government’s policy on the development of pumped storage projects.
The MoU outlines the responsibilities of NHPC in conducting surveys, investigations, and the preparation of Detailed Project Reports (DPRs) for these projects. It also covers the execution of the projects in compliance with the relevant policies of the Central and State Governments. The initiative is seen as a critical step towards enhancing energy storage solutions in Maharashtra, which will help the state meet its renewable energy goals.
The agreement was formally exchanged between Rajat Gupta, Executive Director (SBD&C) of NHPC, and Deepak Kapoor, Additional Chief Secretary of the Water Resources Department, Government of Maharashtra. The signing ceremony was attended by prominent dignitaries, including Maharashtra’s Deputy Chief Minister, Devendra Fadnavis, and R. P. Goyal, Director (Finance) at NHPC.
Pumped storage projects are considered crucial for energy storage and grid stability, particularly as the nation moves towards increasing its reliance on renewable energy sources. This MoU aligns with India’s national targets of achieving 500GW of renewable energy capacity by 2030 and reaching net zero emissions by 2070.
The partnership between NHPC and the Maharashtra government is expected to accelerate the development of energy storage infrastructure, providing a reliable solution to manage the variability of renewable energy sources like wind and solar. By integrating pumped storage projects, Maharashtra aims to strengthen its energy resilience and contribute significantly to the national renewable energy mission.
