MoU Signed for 2,100 MW Pumped Storage Hydropower Project in Pune and Raigad

Mumbai, March 2026 : In the presence of Devendra Fadnavis, a Memorandum of Understanding (MoU) was signed with Chambéry Power (a group company of EDF Solutions Private Limited) to develop the 2,100 MW Pimpalpada–Savale Pumped Storage Hydropower Project in Pune and Raigad districts.

The MoU signing ceremony was held at Vidhan Bhavan and was attended by Water Resources Minister (Godavari and Krishna Valley Development Corporation) Radhakrishna Vikhe Patil; Water Resources (Vidarbha, Tapi and Konkan Irrigation Development Corporations) and Disaster Management Minister Girish Mahajan; Additional Chief Secretary, Water Resources Department, Deepak Kapoor; Additional Chief Secretary, Public Works Department, Milind Mhaisakar; Managing Director of Maharashtra State Power Generation Company (Mahagenco), Radhakrishnan B.; Chief Executive Officer of EDF Solutions Private Limited, Guriec Servant; and senior officials from various departments.

The agreement has been signed under the State Government’s Public–Private Partnership (PPP) policy to establish a 2,100 MW pumped storage hydropower project. The project is considered a significant step towards ensuring energy storage and a stable power supply.

Project Details:
The Pimpalpada–Savale Pumped Storage Hydropower Project will be developed by Chambéry Power Private Limited in Pune and Raigad districts. An investment of approximately ₹10,217 crore has been proposed for the project, which is expected to generate around 2,500 jobs.

Pumped Storage Hydropower Projects in Maharashtra:
So far, a total of 55 pumped storage hydropower projects with an expected capacity of 78,215 MW are planned in the state. These projects are anticipated to attract investments of about ₹4.17 lakh crore and generate employment for approximately 1.28 lakh people.

Under these initiatives, the state is expected to earn around ₹1,762.21 crore in revenue at industrial tariff rates and approximately ₹128.32 crore annually through recurring payments.

This major investment in the energy sector is expected to provide a significant boost to Maharashtra’s industrial development, it was stated.