Avaada Group has signed a non-binding memorandum of understanding (MoU) with the Maharashtra government to develop two pumped storage projects (PSPs) with a combined capacity of 2,750 MW.
The MoU was signed between the Water Resources Department of Maharashtra and Avaada Aqua Batteries Private Limited, a subsidiary of Avaada Group. The projects include the 1,500 MW Pawana Falyan PSP located in Pune and Raigad districts, and the 1,250 MW Kumbhavade PSP in Kolhapur and Ratnagiri districts. The total investment for these projects is estimated at approximately Rs 140 billion in the next 5-7 years.
