Odisha approves Rs 4,708 crore pumped storage project in Kalahandi
The 600 MW Upper Indravati facility at Ranibahal is scheduled to be commissioned by the 2030-31 financial year.
The Odisha state Cabinet, chaired by Chief Minister Mohan Charan Majhi on Monday, approved the Rs 4,708.64 crore Upper Indravati Pumped Storage Project at Ranibahal in Kalahandi district, according to Odisha Bytes and Hindustan Times.
The 600 MW facility will be implemented by the Odisha Hydro Power Corporation (OHPC). Megha Engineering & Infrastructures Ltd (MEIL) has been chosen as the Engineering, Procurement and Construction (EPC) contractor at a bid price of Rs 3,372.88 crore, excluding GST.
The total investment covers GST, land acquisition, forest clearances, consultancy, and interest during construction. The project will follow an 80:20 debt-equity ratio, where OHPC provides 20 per cent of the equity from its internal reserves in stages, while the state government provides the other 80 per cent through a phased loan linked to the RBI repo rate.
Chief Secretary Anu Garg stated the project is the first of its kind in the state and will act as a grid-scale energy storage system. It is designed to absorb extra electricity during off-peak hours and supply power during high demand periods.
The facility is expected to produce about 1,040 million units (MU) of annual peak electricity, while requiring roughly 1,283 MU for off-peak pumping. The project aims to improve grid stability through load variation management and black-start capabilities.
The project is scheduled for commissioning during the 2030-31 financial year.