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ReNew to Invest ₹9,000 Crore in 1,500 MW Pumped Hydro Project in Odisha
Sentiment: NeutralHigh Priority
What Happened?
ReNew has signed an MoU with the Odisha government to develop a 1,500 MW pumped hydro storage project in Ganjam district, with an investment of ₹9,000 crore. This initiative aims to enhance Odisha's energy storage capacity.
Key points
- The project will be located at Putabali in Ganjam district.
- The total investment plan by ReNew in Odisha is ₹45,000 crore.
- The MoU was signed in the presence of Odisha Chief Minister Mohan Charan Majhi.
- The project aims to support the integration of renewable energy into Odisha's power grid.
- ReNew's CEO, Sumant Sinha, emphasized the importance of this project for clean energy.
Key insights
- The project may lead to increased renewable energy capacity in Odisha.
- Strengthening energy storage could improve grid reliability.
- This initiative aligns with Odisha's clean energy investment goals.
Why it matters
This investment could enhance Odisha's position as a hub for clean energy projects.
Entities
ReNew· CompanyOdisha· StateMohan Charan Majhi· Person
Source
Business Standard
