Welspun New Energy to build 1.2-GW pumped hydro project in Maharashtra

This will be constructed in the Pune and Raigad districts.

Welspun New Energy has signed an agreement with the government of Maharashtra to develop a 1.2-gigawatt (GW) pumped hydroelectric storage project in the Indian state.

In a statement, the company said the project has an estimated investment of $59.55m (INR5,000 crore). It will be constructed in Pune and Raigad districts over the next six to seven years.

Welspun New Energy emphasised the significance of this project, aligning with India's goal of reaching 500 GW of renewable energy capacity by 2030. This project is expected to augment the nation's energy storage capabilities, thereby facilitating the seamless integration of renewable energy into the national grid.

$1 = INR83.97