The Maharashtra government has signed a Memorandum of Understanding (MoU) worth ₹8,000 crore with GSC PSP Maha Pvt Ltd for the development of the Panchmauli–Devalipada pumped-storage hydroelectric project in Dhule and Nandurbar districts.

The project, with an installed capacity of 1,500 MW, is expected to create around 2,500 employment opportunities. It will require about 19.29 TMC of initial water storage and 3.24 TMC of annual replenishment. The state anticipates generating nearly ₹1,100 crore in annual revenue through the project’s water-storage and recharge components.

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Chief Minister Devendra Fadnavis stated that the government will establish a fast-track mechanism to expedite approvals related to pumped-storage projects, including water-use and environmental clearances. Maharashtra has set an ambitious goal of developing about 100,000 MW of pumped-storage capacity in the coming years to enhance grid stability and integrate renewable energy sources.

The MoU was signed at the Sahyadri Guest House in Mumbai between Additional Chief Secretary Deepak Kapoor and GSC PSP Maha Managing Director Sumit Nanda, in the presence of the Chief Minister.

This agreement adds to Maharashtra’s growing portfolio of pumped-storage initiatives, aimed at strengthening the state’s power infrastructure and supporting its clean energy transition.

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