ReNew Plans 1,500 MW Pumped Storage Project in Odisha With INR 9,000 Crore Investment
ReNew has entered into an MoU with the government of Odisha to set up a 1,500 MW pumped hydro storage project in Ganjam district with an investment of INR 9,000 crore. The project is part of the company’s anticipated INR 45,000 crore investment in Odisha.
A memorandum of understanding (MoU) was signed during the Bharat Renewable Energy Summit on 3 November between the Odisha government and renewable energy business ReNew. A 1,500 MW pumped hydro storage project at Putabali, Ganjam district, with an estimated investment of INR 9,000 crore, is planned to be developed, according to this MoU.
The project is a component of the company's INR 45,000 crore investment plan in Odisha. Present at the signing of the MoU was Mohan Charan Majhi, the chief minister of Odisha.
ReNew to Strengthen Odisha’s Energy Sector
The project is anticipated to enhance Odisha's ability to store electricity and facilitate the incorporation of renewable sources into the power system. According to Sumant Sinha, ReNew's founder, chairman, and CEO, the company's primary goal is to construct a sustainable energy system. This platform will integrate renewable generation, storage, and infrastructure to provide consistent, clean power all day, every day.
A major step in that direction is this proposed 1,500 MW pumped hydro storage project. By capitalising on Odisha's natural resource potential and enabling policy framework, the project would assist the state's objective to become a major destination for sustainable energy investment, according to the business. By prioritising pumped storage projects, the state hopes to fortify its power grid and encourage more integration of renewable energy sources.
ReNew Supporting Overall Development in Odisha
In addition to funding renewable energy infrastructure, ReNew has been actively involved in Odisha's community development projects. Education, access to basic services, sustainable livelihoods, and climate resilience are the main areas of focus for these efforts. In Pahadpur, Mayurbhanj district, ReNew is running a Net Zero Village programme with the goal of developing a sustainable paradigm for rural development. Solar electrification, clean water facilities, and community infrastructure strengthening have been the primary goals of the first phase.
Creating a Multi-Purpose Resource Center that brings together the community's youngsters, women, farmers, and others is the plan for the next stage. In order to guide future interventions and lay a systematic groundwork for the village's net-zero goal, a technical evaluation of its carbon footprint has also been carried out. Electricity is now available for about eight hours a day in tribal settlements thanks to ReNew's Lighting Lives programme, which has also used solar-powered devices to electrify government schools. The result is a setting that is better suited to education through digital means.
