In a major move to advance India’s renewable energy infrastructure, Avaada Group has entered into an agreement with Maharashtra’s Water Resources Department to develop two large-scale pumped storage hydro projects, totaling 3,650 MW in capacity. The partnership was formalized through a Memorandum of Understanding (MoU) signed in the presence of key state leaders, including Maharashtra Deputy Chief Minister Devendra Fadnavis, Cabinet Minister for Water Resources Girish Mahajan, Water Resources Minister Radhakrishna Vikhe Patil, Chief Secretary Sujata Saunik, and other senior officials from the state’s energy and water resources departments.
The two proposed projects — the 2,400 MW Pawana Falyan and the 1,200 MW Sirsala installations — represent a joint investment of ₹15,100 crore. Together, they are expected to create more than 3,800 direct jobs and significantly enhance Maharashtra’s clean energy infrastructure.
These pumped storage systems are designed to provide flexible, reliable energy by storing excess renewable power and supplying it on demand. This capability will help stabilize the grid, support continuous use of clean energy, and reduce dependence on fossil fuels. These efforts also align with India’s national objective of reaching 500 GW of non-fossil fuel capacity by 2030, contributing to the country’s position as a global clean energy leader.
At the MoU signing, Deputy Chief Minister Devendra Fadnavis reaffirmed Maharashtra’s ambition to lead India’s green energy movement, stating: “Our goal is to make Maharashtra the clean energy hub of India. Every agreement must result in action on the ground, and the state government stands fully behind these efforts to accelerate execution.”
Vineet Mittal, Chairman of Avaada Group, said: “This partnership marks a critical milestone in securing energy reliability through clean sources. Pumped storage plays a key role in ensuring round-the-clock availability of renewable power. We’re proud to collaborate with the Maharashtra government in shaping a resilient and sustainable energy future.”
This initiative reflects both the state’s commitment to long-term energy resilience and Avaada Group’s broader mission of advancing India’s energy transformation through strategic investments and technological leadership. Avaada Group is a prominent player in the global renewable energy sector, with operations spanning solar manufacturing, large-scale clean power generation, and the development of green hydrogen, ammonia, and alternative fuels.
Guided by Chairman Vineet Mittal, Avaada aims to reach 11 GWp of renewable capacity by 2026. Its expansion has been supported by a $1.3 billion investment from Brookfield’s Energy Transition Fund and GPSC, a subsidiary of Thailand’s PTT Group.
