SJVN Limited announced on Friday that it has signed two Memorandums of Understanding (MoUs) with the Maharashtra government to develop Pumped Storage Projects (PSPs) and Floating Solar Projects (FSPs) within the state. According to a regulatory filing, the MoUs were signed in Mumbai in the presence of Maharashtra’s Deputy Chief Minister and Energy Minister, Devendra Fadnavis.
The first MoU was signed between SJVN and Maharashtra’s Department of Water Resources for the development of five pumped storage projects with a total capacity of 8,100 MW. The second MoU, between SJVN and the Maharashtra State Power Generation Company (MAHAGENCO), focuses on a 505 MW floating solar project at Lower Wardha Dam.
The combined investment for these projects is estimated at Rs 48,000 crore, and they are expected to create around 8,400 direct and indirect jobs. The floating solar project will be developed in two phases, with the first phase contributing 100 MW and the second 405 MW. SJVN highlighted that the phased approach will make optimal use of the existing power infrastructure, providing a reliable and sustainable energy source for the region.
Additionally, the company noted that the 8,100 MW pumped storage projects include the Kolmondapada (800 MW), Sidgarh (1,500 MW), Chornai (2,000 MW), Baitarni (1,800 MW), and Jalvara (2,000 MW) projects. SJVN will undertake surveys, investigations, and preparation of detailed project reports, ensuring timely development in line with government policies. The PSPs will enhance energy storage, stabilize the grid, and meet peak electricity demand, contributing to Maharashtra’s clean and reliable energy future.
