NHPC, GRIDCO Sign MoU for 1,000 MW Pumped Storage Project in Odisha
NHPC has signed an MoU with GRIDCO to develop a 1,000 MW pumped storage project at Masinta in Deogarh district of Odisha, during the Odisha Renewable Energy Investor Conclave 2026. The DPR for the project is already at an advanced stage.
February 16, 2026. By Mrinmoy Dey
The MoU was signed during the Odisha Renewable Energy Investor Conclave 2026, in the presence of the Deputy Chief Minister of Odisha and senior State and Central Government officials.
The agreement was signed by Abhayanand Thakur, Executive Director (Strategy, Business Development and Consultancy), NHPC, and Satyapriya Rath, IAS, Managing Director, GRIDCO. Bidyadhar Moharana, Head of NHPC Project, Odisha, and other senior officials were also present at the event.
The detailed project report (DPR) for the Masinta PSP is at an advanced stage, and the collaboration is expected to strengthen renewable energy integration and enhance energy security for Odisha and the country, NHPC stated.
NHPC aims to achieve a renewable energy capacity of 16,700 MW by 2030 and plans to increase its total installed capacity to 23 GW by 2032 and over 50 GW by 2047.
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