New Delhi: The Maharashtra Government on Thursday signed an MoU with Tatya Saheb Kore Warana Co-operative Navshakti Nirman Sanstha Ltd for three pumped storage hydropower projects with an investment of Rs 5,200 crore.
The three projects will together have a capacity of 1,100 MW power generation and create around 1,100 jobs, said an official release.
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Chief Minister Devendra Fadnavis, in whose presence the Memorandum of Understanding was signed, noted that rapid expansion of data centres in the state will sharply increase power demand over the next four years, especially for renewable energy-based supply, making such projects essential.
"These projects will create the capability in the state to store energy at scale and keep the national grid stable," he further said.
In a typical pumped storage hydropower project, water is pumped uphill into a reservoir when there is excess electricity, and when power is needed, the water is released downhill to spin turbines and generate electricity.
Kumbhi off-stream closed loop pumped storage projects (Parts A and B) will come up in Kolhapur/Sindhudurg districts, while the Kadvi off-stream closed loop project will be set up at Shahuwadi in Kolhapur district.
The total investment in the three projects is pegged at Rs 5,199 crore.
"While states like Rajasthan and Gujarat have an advantage in solar energy due to vast desert land, Maharashtra's real strength lies in pumped storage projects," CM Fadnavis said, adding that such projects will be crucial to meet future energy demand.
Maharashtra is also considering extending 'anchor project' support to these initiatives, including a positive approach towards power purchase agreements (PPAs) and financial assistance, said Fadnavis.
Water Resources Minister Girish Mahajan said pumped storage projects will help the state move towards nearly 1 lakh MW capacity in the future.
"Earlier, people faced significant load shedding during April-May, but the situation has improved considerably in recent years," Mahajan said, adding that such projects will help ensure 24-hour power supply.
MLA Vinay Kore said pumped storage projects will play a key role in achieving energy independence for Maharashtra and efficiently utilise the natural resources of the Sahyadri region.
He added that apart from power generation, such projects can also help divert excess monsoon water flowing into the sea to drought-prone areas.
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Additional Chief Secretary (Water Resources) Deepak Kapoor said the state has so far created 80,515 MW power generation capacity and a policy for projects up to Rs 3,000 crore will be formulated soon as per central government guidelines.
The Kumbhi (Part A) project will have a capacity of 600 MW with an investment of Rs 2,784 crore and generate 600 jobs, while Kumbhi (Part B) will have 300 MW capacity with Rs 1,434 crore investment and create 300 jobs, said the release.
The Kadvi project will have a capacity of 200 MW with an investment of Rs 981 crore, and generate 200 jobs.
Overall, 59 such projects in the state are expected to create 81,215 MW capacity, attract investments worth Rs 4.28 lakh crore, and generate employment for about 1.31 lakh people, officials said.
About 19.29 TMC water will be required for initial storage across such projects.
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