Avaada Group has signed a memorandum of understanding (MoU) with Maharashtra’s Water Resources Department to develop two major pumped storage hydro projects with a combined capacity of 3,650 MW.

Avaada, an integrated energy enterprise, will develop 2.4 GW Pawana Falyan and 1.2 GW Sirsala pumped storage projects with a cumulative investment of INR 151 billion ($1.8 billion). The projects are expected to create more than 3,800 direct employment opportunities.

Avaada stated the pumped storage initiatives will play a critical role in strengthening Maharashtra’s energy security by enabling round-the-clock renewable power, supporting grid balancing, and ensuring the seamless integration of clean energy into the state’s power mix.

Maharashtra Chief Minister Devendra Fadnavis said the state aims to become India’s green energy hub and offered full state government support to accelerate project execution.

“This agreement is a decisive step towards securing India’s clean energy future,” added Avaada Group Chairman Vineet Mittal. “Pumped storage solutions are pivotal for maintaining grid reliability and ensuring renewable energy availability round-the-clock.”