From pv magazine India
The Indian state of Maharashtra has signed a memorandum of understanding worth $$960 million) with GSC Group of Singapore for the 1.5 GW Panchmauli-Devalipada pumped storage hydroelectric project in Dhule and Nandurbar districts. The project is expected to create about 2,500 jobs.
GSC, which operates the 96 MW Jorethang Loop and 97 MW Tashiding hydroelectric projects in Sikkim, has now signed its third set of pumped storage projects in India after Chhadgada (900 MW) in Uttar Pradesh and Jankhai (1.5 GW) in Madhya Pradesh. The agreement was signed between Additional Chief Secretary Deepak Kapoor and GSC Group Chairman and Managing Director Sumit Nanda, in the presence of Chief Minister Devendra Fadnavis.
“The state government will establish a fast-track mechanism to ensure time-bound clearances for pumped storage hydroelectric projects, including water usage and environmental approvals,” Fadnavis said. He added that Maharashtra’s Sahyadri mountain ranges offer favorable geography for developing such projects and that the state aims to build around 100 GW of capacity through them to strengthen both state and national power grids.
Kapoor said memorandums of understanding have been signed for 50 pumped storage projects to date, with 51 projects expected to generate 70.3 GW, attract INR 3.83 lakh crore in investments, and create about 113,000 jobs.
“As India rapidly solarizes, storage becomes the key challenge to solve and pumped storage hydropower stands out as the most proven, sustainable, and durable solution,” Nanda said. “At GSC, we remain deeply committed to advancing India’s renewable energy infrastructure through long-duration storage assets that can strengthen grid reliability for decades to come.”
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