Maharashtra state government signed deal with Singapore’s GSC Group for 1.5 GW hydro storage project

The Maharashtra government has signed a Memorandum of Understanding (MoU) worth INR 80 billion (US$903 million) with Singapore-based GSC Group for developing the 1,500-MW Panchmauli-Devalipada Pumped Storage Hydroelectric Project across Dhule and Nandurbar districts. The project is anticipated to generate around 2,500 jobs and deliver annual revenue exceeding ₹1,100 crore to the state via water-storage and related operations. Maharashtra’s Chief Minister Devendra Fadnavis stated that the state’s terrain — particularly the Sahyadri mountain ranges — offers favourable geography for pumped‐storage developments, and confirmed the establishment of a fast-track mechanism for water-use and environmental clearances to support such projects. This marks the 51st MoU signed by Maharashtra for pumped‐storage hydro projects, aggregating to a potential 70,315 MW capacity and approximately ₹3.83 lakh crore in investment commitment, aiming to bolster grid stability and support the expansion of renewable energy in the state and beyond.