Maharashtra Signs INR 8,000 Crore MoU for 1,500 MW Pumped Storage Project
The Maharashtra government has inked an MoU with GSC PSP Maha to develop the 1,500 MW Panchmauli–Deolipada Pumped Storage Project in Dhule and Nandurbar districts, marking its 51st pumped storage initiative worth INR 8,000 crore to strengthen grid stability and renewable capacity.
November 05, 2025. By Mrinmoy Dey
Maharashtra Chief Minister Devendra Fadnavis presided over the signing of a Memorandum of Understanding (MoU) between the Government of Maharashtra’s Water Resources Department and GSC PSP Maha for the PSP project.
Valued at around INR 8,000 crore, the project is expected to generate substantial employment and bolster Maharashtra’s renewable energy infrastructure. This marks the state’s 51st pumped storage project MoU, underscoring its growing commitment to energy transition and grid stability through large-scale storage initiatives.
“Directed that all approvals, including water usage and environmental clearances will be expedited through a fast-track mechanism. The state has targeted 1 lakh MW capacity through Pumped Storage projects to ensure grid stability and contribute to the stability of the national power grid. Maharashtra’s Sahyadri mountain ranges offer favourable geographical conditions for such projects,” stated Fadnavis.
He further added that Maharashtra is creating new benchmarks in solar energy generation. “Through Asia’s largest solar project, 16 GW of distributed capacity will be developed to meet the entire agricultural power demand through solar energy. These projects will make Maharashtra a leader in renewable energy and a role model of sustainable growth,” asserted Fadnavis.
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