Avaada Group to Invest ₹14,000 Crore in Massive Pumped Storage Projects in Maharashtra

Avaada Group is making a significant splash in Maharashtra's energy sector with a monumental ₹14,000 crore investment in two pumped storage power projects. The ambitious plan, unveiled by Avaada Aqua Batteries Pvt Ltd, aims to develop a total capacity of 2,750 MW, promising a major boost to the state's energy infrastructure.

The formal agreement was signed with the Maharashtra Water Resources Department, with key figures including Deputy Chief Minister Devendra Fadnavis and Avaada Group Chairman Vineet Mittal in attendance. The two projects include the 1,500 MW Pawana Falyan Pumped Storage Project (PSP), located in the Pune and Raigad districts, and the 1,250 MW Kumbhavade PSP in Kolhapur and Ratnagiri.

Spanning a development timeline of 5-7 years, these projects are set to enhance Maharashtra’s energy security while promoting environmental sustainability. Avaada Group's commitment to renewable energy was underscored in their statement, aligning with Fadnavis’s emphasis on the importance of sustainable energy solutions for long-term economic health.

The investment represents a strategic push towards a greener energy future, positioning Maharashtra as a key player in India's renewable energy landscape.

News  by Rahul Yelligetti