New Delhi: NHPC Limited and GRIDCO, the Odisha government-owned power utility, have signed a Memorandum of Understanding (MoU) to jointly explore the development of a 1,000 MW Pumped Storage Project (PSP) at Masinta in Deogarh district. The partnership also includes other renewable energy initiatives aimed at supporting Odisha’s decarbonisation and energy transition goals.
The MoU was formalised during the Odisha Renewable Energy Investor Conclave 2026 in Bhubaneswar, in the presence of the Hon’ble Deputy Chief Minister of Odisha and senior State and Central Government officials.
Key Signatories
- Mr. Abhayanand Thakur, Executive Director (Strategy, Business Development & Consultancy), NHPC
- Mr. Satyapriya Rath, IAS, Managing Director, GRIDCO
- Mr. Bidyadhar Moharana, Head of NHPC Project, Odisha, along with other senior officials
Project Significance
The Detailed Project Report (DPR) for the Masinta Pumped Storage Project is at an advanced stage, and the collaboration is expected to:
- Strengthen renewable energy integration in Odisha
- Enhance energy security for the State and the country
- Support India’s green energy and decarbonisation initiatives
- Improve grid stability and facilitate wider adoption of renewable power
Pumped storage projects like Masinta are increasingly recognised as crucial for balancing intermittent renewable energy sources and supporting India’s energy transition goals.
About NHPC Limited and GRIDCO
NHPC Limited is a premier government-owned hydropower company in India, engaged in the development of renewable energy projects, including hydro, solar, and pumped storage projects, contributing significantly to India’s green energy targets.
GRIDCO (Grid Corporation of Odisha) is the State-owned power transmission and distribution utility, responsible for managing Odisha’s electricity supply, promoting renewable energy integration, and supporting the State’s decarbonisation and energy security objectives.
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