BHUBANESWAR: Renewable energy major ReNew on Tuesday signed an MoU with the state government to set up a 1,500 MW pumped hydro storage project at Putabali in Ganjam district, with an estimated investment of Rs 9,000 crore.
The MoU was signed at the Bharat Renewable Energy Summit 2026 in the presence of Chief Minister Mohan Charan Majhi and deputy chief minister Kanak Vardhan Singh Deo. The proposed project is part of ReNew’s investment plans of approximately Rs 45,000 crore in Odisha.
ReNew founder chairman and CEO Sumant Sinha said energy storage was becoming increasingly important for India’s clean energy transition. The company was focused on building an integrated clean energy platform combining renewable generation with storage and supporting infrastructure to deliver reliable, round-the-clock clean power, he added.
“ReNew’s growing investment in Odisha reflects its long-term commitment to develop clean energy infrastructure while contributing the state’s economic and social development,” Sinha said.
Apart from investing in energy infrastructure, the company has been taking community development initiatives including education, essential services, sustainable livelihood and climate resilience.