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NHPC Limited and GRIDCO Partner for 1,000 MW Pumped Storage Project in Odisha

NHPC Limited has entered into a Memorandum of Understanding (MoU) with GRIDCO to jointly pursue the development of a 1,000 MW pumped storage project (PSP) at Masinta in Deogarh district, Odisha. The agreement was formalized during the Odisha Renewable Energy Investor Conclave 2026, in the presence of senior state and central government representatives, including the Deputy Chief Minister of Odisha.

The MoU was signed by Abhayanand Thakur, Executive Director (Strategy, Business Development and Consultancy), NHPC, and Satyapriya Rath, IAS, Managing Director of GRIDCO. Senior officials from both organizations also attended the signing ceremony.

According to NHPC, the Detailed Project Report (DPR) for the Masinta pumped storage project is already at an advanced stage. The proposed collaboration aims to accelerate renewable energy integration, improve grid stability, and enhance long-term energy security for Odisha as well as the country.

Strengthening Renewable Energy Ambitions

The initiative aligns with NHPC’s broader growth roadmap. The company is targeting a renewable energy portfolio of 16,700 MW by 2030. It further plans to scale its total installed capacity to 23 GW by 2032 and exceed 50 GW by 2047, reinforcing its role in India’s clean energy expansion.