In a major step toward strengthening Maharashtra’s renewable energy infrastructure, the state government has inked a Memorandum of Understanding (MoU) worth ₹8,000 crore with Singapore-based GSC Group for the development of the 1,500 MW Panchmauli-Devalipada Pumped Storage Hydroelectric Project in Dhule and Nandurbar districts.
The project is expected to create around 2,500 jobs and generate annual revenue of over ₹1,100 crore for the state. It will be one of the key installations contributing to Maharashtra’s target of developing 1,00,000 MW of pumped storage capacity to stabilize the power grid and support renewable energy integration.
The MoU was signed at the Sahyadri Guest House in the presence of Chief Minister Devendra Fadnavis, between Additional Chief Secretary Deepak Kapoor and GSC Group Chairman & Managing Director Sumit Nanda.
Chief Minister Fadnavis emphasized the state’s commitment to accelerating clean energy projects, stating, “The government will establish a fast-track mechanism to ensure time-bound clearances for pumped storage hydroelectric projects, including water usage and environmental approvals. Maharashtra’s Sahyadri ranges provide ideal conditions for such projects that can enhance grid stability.”
Highlighting the state’s broader energy vision, Kapoor added, “MoUs have been signed for 50 pumped storage projects so far. With this new addition, 51 projects will generate about 70,315 MW of power, attract ₹3.83 lakh crore in investments, and create over 1.13 lakh employment opportunities.”
GSC Group, which already operates two hydroelectric projects in Sikkim—Jorethang Loop (96 MW) and Tashiding (97 MW)—has also signed pumped storage projects in Uttar Pradesh (900 MW) and Madhya Pradesh (1,500 MW).
Expressing his vision for India’s clean energy transition, Sumit Nanda said, “As India rapidly solarises, storage becomes the key challenge to solve, and pumped storage hydropower stands out as the most proven, sustainable, and durable solution. At GSC, we are deeply committed to advancing India’s renewable energy infrastructure through long-duration storage assets that can strengthen the grid and ensure 24×7 clean power.”
With this strategic partnership, Maharashtra aims to position itself as a leader in large-scale energy storage, bridging the gap between intermittent renewable generation and steady power supply.
