Overview
- State officials signed a memorandum of understanding with Novarion Energy on Monday to develop the Ranavadi off‑stream, closed‑loop pumped‑storage project across Pune and Raigad.
- The project is planned at 1,200 megawatts with an estimated investment of Rs 5,760 crore and about 1,500 direct and indirect jobs.
- Pumped storage works like a giant battery by pumping water uphill when demand is low and running it through turbines during peak hours to steady the grid.
- The Ranavadi plan is part of a wider Maharashtra pipeline of 56 pumped‑storage projects targeting 79,415 MW, with about Rs 4.22 lakh crore in expected investment and roughly 1.29 lakh jobs.
- Chief Minister Devendra Fadnavis presided over the signing and posted the announcement on X, with cabinet ministers Girish Mahajan and Radhakrishna Vikhe Patil in attendance.