A Kolhapur-based cooperative, Shri Tatyasaheb Kore Warana Cooperative Navshakti Nirman Sanstha, has signed a Memorandum of Understanding (MoU) with the Maharashtra government for a pumped storage hydropower (PSHP) project.

This is a significant development as it marks the first time a cooperative has entered into such an agreement for power generation in Maharashtra. The project, with a capacity of 240 MW, will be set up at Tillari dam in Sindhudurg district and involves an investment of Rs 1,008 crore.

The annual energy required for pumping water back to the upper reservoir will be supplied by a co-located floating solar energy project, aiming to avoid 5 lakh tonnes of CO2 emissions annually.

The project is crucial for enhancing grid stability and reliability, especially with the increasing integration of variable renewable energy sources. It is expected to create around 300 jobs.

Maharashtra's Deputy Chief Minister Devendra Fadnavis highlighted that this is one of 16 MoUs signed by the state government for pumped storage hydropower projects, with a total planned capacity of 62,125 MW and an investment of Rs 3.4 lakh crore, aiming to generate 96,000 jobs.