Maharashtra's Rs 31,955 Cr Pumped Hydropower Projects

Mumbai, Jul 15 (PTI) The Maharashtra government on Tuesday signed four Memoranda of Understanding (MoUs) with private companies to develop pumped storage hydroelectric projects (PSPs) with Rs 31,955 crore investment with the aim of generating 6,450 MW power and 15,000 jobs.
The MoUs were signed in the presence of state Chief Minister Devendra Fadnavis at the Vidhan Bhavan, the state legislature complex, here.
The projects are expected to significantly contribute to renewable energy generation and bolster industrial and social development of the state, a statement said.
"Maharashtra has emerged as a frontrunner in the country in the pumped storage sector with an ambitious policy, project pipeline and investment outlook," Fadnavis said, adding that the state is moving decisively towards the national goal of achieving net-zero carbon emissions.
The state aims to generate over 50 per cent of its electricity from renewable sources by 2030 with a strong focus on solar energy and pumped storage systems to ensure grid stability, he said.
As per the MoU, Greenko MH-01 IREP Pvt Ltd will set up a plant at Soygaon in Chhatrapati Sambhajinagar with an investment of Rs 9,600 crore. It will generate 2,000 MW of electricity and provide 6,000 jobs.
The government also inked a pact with Adani Hydro Energy Ten Ltd for a project at Chikhaldara in Amravati with Rs 8,250 crore investment and 1,500 MW capacity. It will provide 4,800 jobs, the statement said.
The government signed an MoU with Rithwik Kolhapur PSP Pvt Ltd to set up a project at Chandgad in Kolhapur district. It is projected to produce 1,200 MW energy, while the investment would be Rs 7,405 crore. It will provide 2,600 jobs.
The fourth MoU was signed with Waterfront Construction Pvt Ltd at Lanja in Ratnagiri. It will generate 1,750 MW of power with an investment of Rs 6,700 crore and provide for 1600 jobs.
Fadnavis said while states like Gujarat and Rajasthan have high solar potential due to favourable geographical conditions, Maharashtra's biodiversity and terrain, especially the Sahyadri mountain range, make it ideal for pumped storage.
The state has set a long-term target of achieving 1,00,000 MW PSP capacity, with strong interest already being expressed by several industrial groups. The annual reservoir usage fee would be Rs 11.33 lakh per MW, while water charges will be as per the industrial rates. Land lease will be at the prevailing rates, the statement said.
Previously, the water resources department had signed MoUs for 46 PSPs with 16 agencies, it said.
With these four MoUs, the total number of projects now stands at 50, with a combined capacity of 68,815 MW, estimated investment of Rs 3.75 lakh crore and potential to generate 1.11 lakh jobs, it said.
As per the statement, the water usage and revenue estimates are - initial water requirement: 19.29 TMC (thousand million cubic feet), annual recharge water: 3.24 TMC, one-time revenue (initial fill): Rs 1,762.21 crore, annual revenue (recharge): Rs1,128.32 crore.