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Business
ReNew Power to spend ₹9,000 crore on 1,500 MW pumped‑hydro project in Odisha
✍️ Business Standard
🗓 03 Nov 2026, 08:37 PM
👁 19
Renewable energy firm ReNew Power has announced a ₹9,000 crore investment to develop a 1,500 MW pumped hydro plant in Odisha, marking one of the largest such projects in the country.
Renewable energy developer ReNew Power disclosed plans to allocate ₹9,000 crore for the construction of a pumped‑hydro storage facility with a capacity of 1,500 megawatts in the state of Odisha. The project, which will involve building upper and lower reservoirs and associated turbine‑generator units, aims to provide large‑scale, grid‑balancing power that can store excess electricity generated from solar and wind farms.
If completed on schedule, the pumped‑hydro plant will become one of the biggest of its kind in India, helping the national grid to manage variability in renewable generation and reducing reliance on fossil‑fuel peaking plants. ReNew Power expects the investment to create jobs during the construction phase and to contribute to the country's renewable energy targets.
The company has not disclosed the exact location within Odisha, but officials indicated that the site has been selected after detailed feasibility studies. The project is slated to commence civil works later this year, subject to clearances from state and central authorities.
Stakeholders anticipate that the pumped‑hydro facility will enhance energy security in the eastern region and serve as a model for similar large‑scale storage projects across the country.
If completed on schedule, the pumped‑hydro plant will become one of the biggest of its kind in India, helping the national grid to manage variability in renewable generation and reducing reliance on fossil‑fuel peaking plants. ReNew Power expects the investment to create jobs during the construction phase and to contribute to the country's renewable energy targets.
The company has not disclosed the exact location within Odisha, but officials indicated that the site has been selected after detailed feasibility studies. The project is slated to commence civil works later this year, subject to clearances from state and central authorities.
Stakeholders anticipate that the pumped‑hydro facility will enhance energy security in the eastern region and serve as a model for similar large‑scale storage projects across the country.