Powering Up: Maharashtra’s ₹5,760 Crore Leap into Pumped Storage

The Water Resources Department (WRD), Maharashtra, has signed a memorandum of understanding (MoU) with Novarion Energy to develop the Ranavadi off-stream closed-loop pumped storage project across Pune and Raigad districts.

With an estimated investment of ₹5,760 crore, the project is expected to generate 1,200 MW of clean energy while creating around 1,500 employment opportunities, strengthening the state’s renewable energy capacity. Chief Minister Devendra Fadnavis presided over the MoU signing, reaffirming Maharashtra’s commitment to expanding sustainable energy infrastructure.

The Ranavadi project forms part of the state’s broader push towards pumped storage solutions, which are critical for balancing intermittent renewable energy sources such as solar and wind, and ensuring grid stability.

With this addition, Maharashtra has initiated 56 pumped storage projects with a combined planned capacity of 79,415 MW. These initiatives are expected to attract investments of approximately ₹4.22 lakh crore and generate employment for nearly 1.29 lakh people.

Overall, the development highlights Maharashtra’s strategic focus on accelerating the clean energy transition, enhancing grid reliability, and ensuring long-term energy security, while also supporting regional economic growth in Pune and Raigad districts.

News by Rahul Yelligetti.