The Maharashtra government energy department has signed an MoU with Adani Green Energy Group Ltd (AGEL) to produce 11,000 megawatts of green electricity over the next five years. The government statement said that this would require an investment of Rs 60,000 crore and provide jobs for 30,000 people.

Under the agreement, AGEL will build a pumped storage project (PSP) over the next four to five years, through which about 11,000 megawatts of electricity will be generated, according to a statement released by the State Energy Department.

The state will reap many benefits from PSPs that will generate or store electricity with the help of unconventional energy sources, adding that they are particularly useful for generating electricity immediately in the event of a shortage. The MoU was signed by Narayan Karad, Deputy Minister of Energy, Maharashtra, and Ajit Barodia, Senior Vice President, Adani Industries Group.

Secretary Nanasaheb Dhone and Assistant Vice President of AGEL Akshay Mathur also attended the event. The MoU was signed with AGELin in the presence of Energy Minister Dr Nitin Raut and Energy Department Principal Secretary Dinesh Waghmare.