NHPC Inks Pact for 7,350 MW Pumped Hydro Storage in Maharashtra

NHPC has signed an agreement to develop 7,350 MW of pumped hydro storage projects in Maharashtra. The MoU includes surveying, investigation, and report preparation, aligning with national renewable energy targets. The pact with Maharashtra’s Water Resources Department was signed on September 3, 2024.

State-owned hydro power giant NHPC on Wednesday announced it has signed an initial pact to develop pumped hydro storage projects amounting to 7,350 MW in Maharashtra.

The memorandum of understanding focuses on the survey, investigation, and preparation of a Detailed Project Report (DPR), adhering to both Central and State Government directives, according to a company statement.

Signed on September 3, 2024, in Mumbai with Maharashtra's Department of Water Resources, the MoU is a pivotal step towards advancing Pumped Storage Projects as viable energy storage solutions. This move aligns with the national goal of achieving 500 GW of renewable energy by 2030 and Net Zero by 2070, the statement added.

(With inputs from agencies.)