NHPC and GRIDCO Sign MoU for 1000 MW Pumped Storage Project in Odisha
New Delhi, 12 Feb 2026: NHPC Limited and GRIDCO, Government of Odisha, 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, along with other renewable energy initiatives. The collaboration aims to support Odisha’s decarbonisation and energy transition goals.
The MoU was signed during the Odisha Renewable Energy Investor Conclave 2026, in the presence of the Hon’ble Deputy Chief Minister of Odisha and senior State and Central Government officials.
Key Signatories:
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Shri Abhayanand Thakur, Executive Director (Strategy, Business Development & Consultancy), NHPC
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Shri Satyapriya Rath, IAS, Managing Director, GRIDCO
Shri Bidyadhar Moharana, Head of NHPC Project, Odisha, along with other senior officials, also attended the event.
The Detailed Project Report (DPR) for the Masinta Pumped Storage Project is at an advanced stage, and this partnership is expected to:
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Strengthen renewable energy integration in Odisha
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Enhance energy security for the State and the country
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Support India’s green energy and decarbonisation initiatives
This MoU reflects the growing focus on pumped storage projects as a key enabler for grid stability and renewable energy adoption, positioning Odisha as a leading state in India’s energy transition.