Maharashtra to Lead in Energy Generation Through Pumped Storage Projects: CM Devendra Fadnavis

56th MoU in Pumped Storage Hydropower Sector Signed

Mumbai, April 2026 : Maharashtra is set to significantly enhance its power generation capacity, with major efforts underway to generate up to 1 lakh megawatts of electricity through pumped storage hydropower projects (PSPs). Chief Minister Devendra Fadnavis expressed confidence that the state will emerge as a leader in energy generation through such projects.

He was speaking at the Mantralaya in Mumbai, where a Memorandum of Understanding (MoU) was signed between the Water Resources Department and Novarian Energy Private Limited for generating 1,200 megawatts of electricity in the pumped storage hydropower sector.

The event was attended by Water Resources Minister Radhakrishna Vikhe Patil, Minister for Water Resources and Disaster Management Girish Mahajan, along with senior officials including Additional Chief Secretary Deepak Kapoor, Chief Minister’s Additional Chief Secretary Lokesh Chandra, Principal Secretary Dr. Shrikar Pardeshi, and Secretary Sanjay Belsare. Representatives from Novarian Energy, including Arun Lakhani and Sarang Lakhani, were also present.

Through multiple agreements, the state is expected to add a total power generation capacity of 78,218 megawatts, with an estimated investment of ₹4,22,461 crore and the potential to create around 1.27 lakh jobs. The government is prioritizing renewable energy projects, moving towards energy self-reliance while promoting environmentally sustainable development. These initiatives are also expected to accelerate industrial growth in the state.

So far, the Maharashtra government has signed 55 MoUs with various companies in the energy sector. These include major players such as Tata Power, NTPC Limited, Adani Green Energy, and Torrent Power.

Key Features of the MoU:

• This is the 56th agreement in the pumped storage hydropower sector
• The project will generate 1,200 megawatts of electricity
• Investment of approximately ₹5,760 crore
• Expected to create around 1,500 jobs

Under this agreement, Novarian Energy Private Limited will establish the project at Ranwadi in Mahad taluka of Raigad district, further strengthening Maharashtra’s position in the renewable energy sector.