Welspun New Energy has signed a memorandum of understanding (MoU) with the Maharashtra government for the construction of the 1.2 GW ‘Dhamni Pumped Hydro Project’. The Rs 50 billion project will be located in Pune and Raigad districts and is expected to be completed within six to seven years.
The MoU, signed in Mumbai on 3 August 2024 in the presence of Deputy Chief Minister Devendra Fadnavis, focuses on providing long-duration energy storage to balance variable supply and demand, thus enhancing grid stability. This project is part of Welspun’s broader goal of establishing 5 GW of renewable energy and producing 2 million tpa of green derivatives like ammonia and methanol by 2030.