Maharashtra signs MoU for 2,100 MW pumped storage project

The Maharashtra government has signed a Memorandum of Understanding (MoU) with Chambery Power Private Limited, a group company of EDF Power Solutions India, to develop the 2,100 MW Pimpalpada–Savale Pumped Storage Project across Pune and Raigad districts. The project involves a proposed investment of Rs 10,217 crore and is expected to generate around 2,500 employment opportunities.

Chief Minister Devendra Fadnavis announced the development on social media following a review meeting on pumped storage hydroelectric projects in the state. According to the Chief Minister’s Office, the MoU exchange took place in the presence of Water Resources Minister Radhakrishna Vikhe Patil, Girish Mahajan, EDF Power Solutions India Chief Executive Officer (CEO) Guirec Servan, and other officials.

With the signing of this MoU, the number of pumped storage projects initiated in Maharashtra has reached 55, with a combined planned capacity of 78,215 MW. The state government estimates that these projects will attract total investments of about Rs 4.17 lakh crore and generate approximately 1.28 lakh employment opportunities.

Fadnavis stated that Maharashtra is witnessing strong investment activity in the energy sector. He added that the Water Resources Department has signed 55 MoUs with various companies for the development of pumped storage hydropower projects in the state.

According to the Chief Minister, the pipeline of projects is expected to significantly expand the state’s power generation capacity, support industrial development and strengthen local economies through job creation.

The Pimpalpada–Savale project represents the latest engagement by French energy company EDF in India’s power sector. The company has previously explored collaboration with NTPC Limited through a proposed 50:50 partnership, subject to Government of India approval, to support nuclear and hydro power development.

EDF has also secured renewable energy projects in India through its renewables platform. RIH Renewables, a vehicle of EDF Renewables, earlier won a 40 MW wind project in Gujarat under Phase VIII of the Gujarat Urja Vikas Nigam Limited (GUVNL) tender at a tariff of Rs 3.59 per kWh.

Photo credit: @CMOMaharashtra/ X