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Mumbai, Nov 3 (IANS) The Maharashtra government on Monday signed an MoU with GSC PSP Maha Private Limited Company for an investment of Rs 8,000 crore for the Panchmauli-Deolipada Pumped Hydropower Project in Dhule/Nandurbar.
The MoU was signed in the presence of Chief Minister Devendra Fadnavis.
The Chief Minister said the state government will set up a ‘fast-track’ mechanism to ensure that investors in pumped hydropower projects get all other licenses, including water use and environment clearances, expeditiously.
The project, with an installed power capacity of 1,500 MW, will generate around 2,500 jobs.
The project will require approximately 19.29 TMC water for initial water storage and 3.24 TMC water for annual replenishment. The revenue from water recharge schemes is expected to be around Rs 1,762.21 crore at industrial rate for first recharge and around Rs 1,128.32 crore for annual recharge, the government release said.
CM Fadnavis said Maharashtra will greatly benefit from the favorable geographical conditions for implementing pumped storage projects in the state, especially in the Sahyadri mountain range.
“Therefore, the State Government has also decided to accelerate the Pumped Storage Projects (PSP) policy to stabilize the power grid. It is targeted to develop pumped storage projects with a capacity of about 1,00,000 MW for grid stability. Through this, the capacity will be created to stabilize not only Maharashtra but also the national power grid.”
“Maharashtra is now creating a new history in the field of solar energy. The state government has launched the largest solar energy project in Asia, through which the initiative will be taken to shift the entire energy requirement of the agriculture sector to solar energy. This project will create a distributed solar energy capacity of 16,000 MW. Due to this project, the power supply required for agriculture will be based on solar energy, thereby reducing the dependence on conventional energy sources to a great extent,” the Chief Minister said.
According to the Chief Minister, with these solar power and pumped hydro projects, Maharashtra will become a leader in the field of renewable energy in the country, and the state will move towards environment-friendly and sustainable energy production, the Chief Minister also said on the occasion.
Deepak Kapoor, Additional Chief Secretary, Water Resources Department, said that the government has so far signed MoUs for 50 pumped hydropower projects and necessary steps are being taken to implement these MoUs expeditiously. He said 70,315 MW of power is expected to be generated through 51 projects, which will result in investment of Rs 3.83 lakh crore and creation of 1,13,990 manpower jobs.
–IANS
SJ/PGH