Welspun New Energy signs MoU for 1.2 GW pumped hydroelectric storage project in Maharashtra

B K Goenka
| Photo Credit: KAMAL NARANG

Welspun New Energy said it had signed a Memorandum of Understanding (MoU) with the Government of Maharashtra (Department of Water Resources), to develop 1.2 GW pumped hydroelectric storage project with an investment of approximately ₹5,000 crore. 

Named ‘Dhamni Pumped Hydro project’, this project is expected to enhance the country’s energy storage capacity and support the integration of renewable energy into the grid, the company said. 

B.K. Goenka, Chairman, Welspun World, said, “This project is a significant milestone in our efforts to drive renewable energy adoption in Maharashtra. By harnessing the power of pumped storage we are not only contributing to the State’s energy security but also creating green employment opportunities and driving socio-economic growth in the region.”

The 1.2 GW Pumped Hydro project will be constructed in Pune and Raigad districts with a total investment of approximately ₹5,000 crore over the next 6-7 years.

Kapil Maheshwari, Executive Director & CEO, Welspun New Energy Ltd., said, “The project will be helpful in increasing the renewable penetration in the grid and provide stability to the intermittency of renewable energy generation. Further, the project also provides an opportunity for long duration energy storage to manage variable supply and variable demand and will enhance Grid stability.”