Welspun Powers Up Maharashtra with ₹5k Crore Pumped Storage Project

Welspun New Energy has entered into a significant partnership with the Maharashtra government to develop a 1.2 GW pumped hydroelectric storage project. Named the 'Dhamni Pumped Hydro Project,' this initiative will see an investment of approximately ₹5,000 crore and will be located across the Pune and Raigad districts. The project is expected to be completed over the next six to seven years.

The Memorandum of Understanding (MoU) for this ambitious venture was signed on August 3, 2024, in Mumbai, with Deputy Chief Minister Devendra Fadnavis in attendance. The Dhamni project is designed to provide long-duration energy storage solutions, helping to balance variable energy supply and demand while enhancing the stability of the power grid.

This initiative aligns with Welspun New Energy's broader goal of establishing 5 GW of renewable energy capacity and producing two million tons per annum of green derivatives, such as ammonia and methanol, by 2030. The project is expected to significantly contribute to increasing the penetration of renewable energy into the grid, addressing the intermittent nature of sources like wind and solar power.

Pumped hydroelectric storage is particularly valuable for its ability to act as an energy backup, smoothing out the variability inherent in renewable energy generation. As India works towards its Panchamrit pledge, which includes a target of 500 GW of renewable energy capacity by 2030, projects like Dhamni are critical to ensuring a stable and reliable energy transition.

Welspun's investment not only supports India's renewable energy goals but also strengthens Maharashtra's role as a key player in the nation's green energy landscape. This project is poised to make a significant impact on the state's energy infrastructure, contributing to a more sustainable future.

News by Rahul Yelligetti