State-owned NHPC Ltd. and the Maharashtra government have agreed to establish four pumped storage energy projects in the state with a combined capacity of 7,350 megawatts (MW).

For the purpose of establishing pumped storage projects and other renewable energy source projects, a memorandum of understanding (MoU) has been inked with the Department of Energy, Government of Maharashtra, according to a release from NHPC.

In the presence of Devendra Fadnavis, the Deputy Chief Minister of Maharashtra, the MoU was signed by Biswajit Basu, Director, (Projects), NHPC, and Abha Shukla, Principal Secretary (Energy), Department of Energy, Maharashtra Government.

“The MoU envisages the development of four pumped storage projects aggregating to 7,350 MW, namely Kalu -1,150 MW, Savitri -2,250 MW, Jalond -2,400 MW & Kengadi -1,550 MW and other renewable energy source projects in the state,” it said.

This will be as NHPC’s stepping stone into Maharashtra, RK According to Vishnoi, CMD of NHPC, these projects will bring in an estimated Rs 44,000 crore in investment and create close to 7,000 indirect and direct jobs in the state.

By utilising pump storage projects as energy storage options, the MoU aims to help the country reach its energy transition goals of 500 GW of renewable energy by 2030 and Net Zero by 2070.