₹31,955 Crore Deal: Maharashtra Seals Green Power Agreement with Private Firms

Maharashtra has taken a major leap in renewable energy by finalising deals worth ₹31,955 crore with leading private players for pumped storage hydroelectric projects. The move is aligned with the state's long-term commitment to clean energy and energy security.

Massive Hydropower Push: ₹31,955 Crore Investment for 6,450 MW

On July 15, 2025, the Maharashtra government signed 4 important Memoranda of Understanding (MoUs) with private companies for establishing pumped storage hydroelectric projects. These projects aim to produce 6,450 MW of renewable power while generating 15,000+ jobs across the state.

The deals were formalised in the presence of Chief Minister Devendra Fadnavis at Vidhan Bhavan. As a part of the state’s agenda to shift 50% of its electricity generation to renewables by 2030, these developments will ensure both energy diversification and grid stability through pumped storage hydropower.

Project-Wise Investment and Capacity Overview

The largest project will be developed by Greenko MH-01 IREP Pvt Ltd at Soygaon, Chhatrapati Sambhajinagar, with ₹9,600 crore invested to produce 2,000 MW while creating 6,000 jobs. Adani Hydro Energy Ten Ltd will set up a 1,500 MW plant at Chikhaldara, Amravati, involving ₹8,250 crore investment and 4,800 job opportunities.

Rithwik Kolhapur PSP Pvt Ltd will invest ₹7,405 crore in Chandgad, Kolhapur, for a 1,200 MW capacity project providing 2,600 jobs. Waterfront Construction Pvt Ltd will develop a 1,750 MW project in Lanja, Ratnagiri, with ₹6,700 crore investment and offer employment to 1,600 people.

Read More: HMEL Secures Three Indian Patents, Showcases Global Innovation in Energy Sector!

Maharashtra’s Strategic Edge in Pumped Storage Hydropower

Maharashtra is uniquely positioned for pumped storage systems due to its diverse biodiversity and the presence of the Sahyadri range. With a long-term target of 100,000 MW PSP capacity, interest from industrial groups is surging. The reservoir usage fee is ₹11.33 lakh per MW, with water rates aligned to industrial benchmarks and land leased at current market rates.

Conclusion

Maharashtra’s ₹31,955 crore hydropower agreements underline its solar and hydro-focused renewable strategy. With 50 projects now reaching a capacity of 68,815 MW, the state is emerging as a leader in pumped storage infrastructure, paving the way for sustainable growth.

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