Fadnavis renamed the dam at an event organised at the site of it, built on Vaitarna river in Palghar district near here.
Besides Uddhav, son of late Bal Thackeray, Mumbai Mayor Snehal Ambekar and other dignitaries were also present.
Terming the Sena founder as a tall leader with a big heart, Fadnavis said, "Bal Thackerayji always believed in politics of high standards. He always helped whosoever approached him."
Soon after its completion, Shiv Sena, which is part of the BJP-led Government in the state, had demanded it be named after Bal Thackeray, who played a pivotal role in its construction.
Speaking on the occasion, Uddhav hoped the dam would also start producing electricity soon.
"I am happy that our demand has been fulfilled. Bal Thackeray's name means energy. So I hope with the support and involvement of the state and Central Government this dam would start producing electricity also," he said.
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