The Maharashtra government has signed a Rs 80 billion memorandum of understanding (MoU) with GSC PSP Maha Private Limited of Haryana for the development of the 1,500 MW Panchmauli-Devalipada pumped storage hydroelectric project in Dhule and Nandurbar districts.
The state will set up a fast-track clearance mechanism for pumped hydro projects, which are intended to stabilise the grid and reduce dependence on conventional power. With this, Maharashtra has signed MoUs for 51 pumped storage projects, expected to attract Rs 3.83 trillion in investments and deliver over 70 GW of capacity.