Pune–Raigad: ₹10,217-Crore Hydropower Project To Create 2,500 Jobs; MoU Signed
Pune–Raigad: ₹10,217-Crore Hydropower Project To Create 2,500 Jobs; MoU Signed
Pune, March 5, 2026: In a major boost to infrastructure and employment, the Government of Maharashtra has signed a Memorandum of Understanding (MoU) to develop a large pumped-storage hydropower project in Pune and Raigad districts. The agreement, valued at ₹10,217 crore, was signed in the presence of Chief Minister Devendra Fadnavis.
The Pimpalpada–Savale Pumped Storage Hydropower Project, with a planned capacity of 2,100 MW, will be developed by Chambrey Power Private Limited, a group company of EDF Solutions Private Limited. The project will be implemented under the state’s Public-Private Partnership (PPP) policy.
Officials said the project is expected to generate around 2,500 jobs and significantly contribute to the industrial development of the Pune region. The pumped-storage facility will also play an important role in energy storage and ensuring a stable power supply.
According to the state government, Maharashtra currently plans to develop 55 pumped-storage hydropower projects with a combined capacity of 78,215 MW. These projects are expected to attract investments worth about ₹4.17 lakh crore and generate employment for nearly 1.28 lakh people.
The state also anticipates annual revenue of ₹1,762.21 crore at industrial tariff rates and about ₹128.32 crore per year through water refilling operations.
The agreement was signed during a programme at Vidhan Bhavan, attended by senior ministers and officials including Water Resources Minister Radhakrishna Vikhe Patil, Disaster Management Minister Girish Mahajan, and representatives from the power and infrastructure sectors.
Officials said the investment marks a significant step toward strengthening Maharashtra’s energy infrastructure and industrial growth.
