Proposed project at Putabali in Ganjam district will strengthen ReNew’s integrated clean energy portfolio;
part of the company’s proposed investment of approximately INR 45,000 crore in the state
Bhubaneswar (Odisha Tazanews) :- ReNew, a leading decarbonization solutions company, today signed a Memorandum of Understanding (MoU) with the Government of Odisha at the Bharat Renewable Energy Summit 2026 to develop a 1,500 MW pumped hydro storage project at Putabali in Ganjam district, with an estimated investment of approximately INR 9,000 crore. The project forms part of ReNew’s broader investment plans in Odisha, which are expected to total approximately INR 45,000 crore. The MoU was signed in the presence of the Hon’ble Chief Minister of Odisha Shri Mohan Charan Majhi.
The proposed project will strengthen Odisha’s energy storage capacity and support the integration of renewable energy into the state’s power grid. Pumped hydro storage can play a critical role in balancing the intermittent nature of renewable energy, improving grid flexibility and stability, and enabling a more reliable supply of clean power. The project also supports Odisha’s ambition to emerge as a leading destination for clean energy investment, leveraging the state’s natural resource potential and enabling policy framework.
The state’s focus on pumped storage projects is expected to facilitate greater renewable energy integration while strengthening the resilience of its power system. Commenting on the development, Sumant Sinha, Founder, Chairman and CEO, ReNew said, “Energy storage is becoming an increasingly important part of India’s clean energy transition. At ReNew, we are focused on building an integrated clean energy platform that combines renewable generation with the storage and infrastructure needed to deliver reliable, round-the-clock clean power.
This proposed 1,500 MW pumped hydro storage project is an important step in that direction. Our growing investments in Odisha reflect our long-term commitment to developing clean energy infrastructure while contributing to the state’s economic and social development.” Alongside its investments in clean energy infrastructure, ReNew has been undertaking community development initiatives in Odisha, with a focus on education, access to essential services, sustainable livelihoods and climate resilience.
A key initiative is ReNew’s Net Zero Village programme in Pahadpur, Mayurbhanj district, which aims to create a model for sustainable rural development. The first phase has focused on solar electrification, safe drinking water facilities and strengthening community infrastructure. The next phase envisages a Multi- Purpose Resource Centre to serve as a hub for youth, women, farmers and the wider community.
A technical assessment of the village’s carbon footprint has also been undertaken to inform future interventions and establish a structured pathway towards its net-zero ambition. Through its Lighting Lives programme, ReNew has also electrified government schools in tribal villages using solar-powered systems, improving electricity availability to approximately eight hours a day and enabling a more conducive environment for learning and digital education.
