Odisha approves Rs 4,708 crore Upper Indravati pumped storage project
The 600 MW facility in Kalahandi district is scheduled to be commissioned during the 2030-31 financial year.
The Odisha government has approved the implementation of the 600 MW Upper Indravati Pumped Storage Project at Ranibahal in Kalahandi district, according to reports by Odisha Bytes and Urban Acres. The state Cabinet, led by Chief Minister Mohan Charan Majhi, cleared the project cost of Rs 4,708.64 crore on Monday.
The project will be executed by the Odisha Hydro Power Corporation (OHPC). Megha Engineering & Infrastructures Ltd (MEIL) has been chosen as the Engineering, Procurement and Construction (EPC) contractor with a bid of Rs 3,372.88 crore, excluding GST.
The total investment covers land acquisition, forest clearances, consultancy, and interest during construction. The financial framework follows an 80:20 debt-equity model, where OHPC will provide 20 per cent equity from internal reserves in phases. The remaining 80 per cent will be provided via a state government loan linked to the Reserve Bank of India (RBI) repo rate.
The facility is designed to act as a grid-scale energy storage system by absorbing surplus power during off-peak hours. It is expected to produce roughly 1,040 million units (MU) of annual peak electricity, while requiring 1,283 MU for off-peak pumping operations.
The project aims to improve grid stability through load variation management, frequency response, and black-start capabilities. This is intended to support the integration of intermittent renewable energy sources. The project is slated for commissioning in the 2030-31 financial year.