Fast-track mechanism for speedy approval of pumped-storage hydropower project licences – Chief Minister Devendra Fadnavis

MoU of ₹8,000 crore signed for Panchmauli–Devalipada Pumped-Storage Hydropower Project

Mumbai, Nov 2025 : An MoU involving an investment of ₹8,000 crore was signed in the presence of Chief Minister Devendra Fadnavis with GSC PSP Maha Private Limited, Haryana, for the Panchmauli–Devalipada Pumped-Storage Hydropower Project (Dhule/Nandurbar). The Chief Minister said the state government will establish a fast-track mechanism to ensure that investors in pumped-storage hydropower projects receive all licences — including water usage and environmental clearances — quickly.

During the program at Sahyadri Guest House, Additional Chief Secretary Deepak Kapoor, Secretary Sanjay Belsare, GSC PSP Maha Pvt. Ltd. Chairman & Managing Director Sumit Nanda, Director Shubh Nanda, Chief Marketing Officer Anup Bhatnagar, Vice-President Vimal Saxena, Legal Advisor Vikas Kumar Pathak were present.
At this time, Deepak Kapoor and company chairman Sumit Nanda signed the MoU.

Chief Minister Fadnavis said that Maharashtra will gain immensely as the state — especially the Sahyadri mountain range — has favourable geographical conditions for implementing pumped-storage hydropower projects. Therefore, the state government has decided to accelerate the Pumped Storage Projects (PSP) policy to keep the power grid stable. A target has been set to develop about 1 lakh MW capacity through pumped-storage hydropower. Through this, not only Maharashtra but the national power grid as well will gain enhanced stability.

Maharashtra is now creating new history in the field of solar energy. The state government has undertaken Asia’s largest solar power project, through which the entire energy requirement of the agriculture sector will be shifted to solar power. This project will create a solar power distribution capacity of 16 GW. The electricity required for agriculture will be based entirely on solar energy, greatly reducing dependence on traditional energy sources, the Chief Minister added.

Since Maharashtra — especially the Sahyadri ranges — has favourable geographical conditions for pumped-storage hydropower projects, the state will benefit immensely. These solar and pumped-storage projects will make Maharashtra a leading state in the renewable energy sector, enabling the state’s transition towards environment-friendly and sustainable power generation, the Chief Minister said.

In the introductory remarks, Deepak Kapoor said that so far 50 MoUs have been signed for pumped-storage hydropower projects, and action is being taken swiftly to bring all these agreements into actual implementation.

He further informed that through 51 projects, electricity generation of 70,315 MW is expected, which will bring investment of ₹3.83 lakh crore and create 1,13,990 jobs.

Project Details

• The project will create around 2,500 jobs.
• The installed power generation capacity is 1500 MW.
• For the primary water storage, about 19.29 TMC water is required, and 3.24 TMC water will be needed annually for replenishment.
• For the primary filling of the pumped-storage scheme, revenue of ₹1,762.21 crore is expected at industrial water rates, and about ₹1,128.32 crore is expected annually for replenishment.