Reportedly, Avaada Group has signed a memorandum of understanding (MoU) with the Water Resources Department, Government of Maharashtra, to set up two pumped storage projects (PSP) with a total capacity of 3,650 MW.
As part of the agreement, the two projects – the 2,400 MW Pawana Falyan and the 1,200 MW Sirsala – will be developed with a cumulative investment of Rs 151 billion. The pumped storage facilities will play a vital role in enhancing Maharashtra’s energy security by providing round-the-clock renewable power, supporting grid balancing operations, and enabling the smooth integration of clean energy into the state’s electricity mix.