Maharashtra, Singapore's GSC Ink Rs 8,000 Cr Hydro Deal

• Maharashtra signed an ₹8,000 crore MoU with GSC Group for a 1,500 MW pumped storage project
• The state has MoUs for 50 pumped storage projects, totaling 70,315 MW
• GSC Group's Chairman emphasized pumped storage’s role in supporting India's renewable energy growth

The Maharashtra government has signed a Memorandum of Understanding (MoU) with GSC Group, based in Singapore, for developing a project called Panchmauli-Devalipada Pumped Storage Hydroelectric Project, in Dhule and Nandurbar districts worth ₹8,000 crore.

The PLS project will generate about 1,500 MW of capacity, creating around 2,500 jobs and generating an estimated revenue of ₹1,100 crore for the state annually. GSC Group will be carrying out its third initiative in pumped storage in India. Their previous initiatives can be found in Uttar Pradesh (Chhadgada, 900 MW) and Madhya Pradesh (Jankhai, 1,500 MW).

The partnership is for a ₹8,000 crore pumped hydro project, boosting renewable energy, power generation, and clean energy solutions, while attracting significant investment in energy storage.

Devendra Fadnavis, the Chief Minister of Maharashtra, declared that the Maharashtra government would create a fast-track mechanism for all the approvals required for pumped storage projects to ensure they are cleared on time, including those related to the environment and water use.

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He stated, “Maharashtra’s geography, especially in the Sahyadri ranges, is ideal for such projects. The state aims to develop 1,00,000 MW capacity through pumped storage to strengthen state and national grids”.

As per Deputy Chief Secretary Deepak Kapoor, a total of 50 pumped storage projects have been signed under MoUs in Maharashtra. If the Panchmauli-Devalipada project is added to Maharashtra's anticipated capacity of pumped storage projects, the anticipated overall installed capacity will be 70,315 MW, with investments worth ₹3.83 lakh crore and job creation of over 1.13 lakh jobs.

Sumit Nanda, Chairman of GSC Group, said pumped storage hydropower was necessary to facilitate India's renewable energy growth and provide reliable electricity for future demand. He added, “As India rapidly solarises, storage is the next big challenge, and pumped storage remains the most proven and sustainable solution”.