Maharashtra signs Rs 5760cr energy MoU

• Maharashtra signs deal for Ranavadi pumped storage project
• Project in Pune and Raigad to invest Rs 5,760 crore for 1200 MW
• Development aims to create 1,500 jobs in the region

Mumbai: The Water Resources Department of the Maharashtra government on Monday signed an agreement with Novarion Energy for the development of 'Ranavadi off-stream close-loop pumped storage project' in

Pune and Raigad districts.

The project is expected to generate 1200 MW with an investment of Rs 5,760 crore and create 1,500 jobs.

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"CM Devendra Fadnavis presided over the MoU signing between Government of Maharashtra (Water Resources Dept) and Novarion Energy for the development of the 'Ranavadi off-stream close-loop Pumped Storage Project' in Pune and Raigad districts," Fadnavis said in a post on X.

With this, a total of 56 pumped storage projects have now been initiated in Maharashtra, aiming to generate 79,415 MW of clean energy.

This will attract an estimated investment of Rs 4.22 lakh crore and create employment opportunities for approximately 1.29 lakh persons.

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