NHPC, GRIDCO sign MoU for 1,000 MW Masinta pumped storage project

NHPC Limited and Grid Corporation of Odisha (GRIDCO) have signed a Memorandum of Understanding (MoU) to jointly explore the development of a 1,000 MW pumped storage project at Masinta in Deogarh district, along with other renewable energy initiatives. The MoU was executed on February 12, 2026, during the Odisha Renewable Energy Investor Conclave in Bhubaneswar.

The proposed Masinta project is part of a wider collaboration between the two entities to support Odisha’s decarbonisation and energy transition plans. As per the exchange disclosure, preparation of the detailed project report for the 1,000 MW pumped storage project is at an advanced stage.

Under the MoU, NHPC and GRIDCO will assess the viability of the Masinta project and examine additional renewable energy opportunities. These initiatives are aimed at improving grid stability and facilitating the integration of variable renewable energy into the state’s power portfolio.

The agreement was signed by Shri Abhayanand Thakur, Executive Director (Strategy, Business Development and Consultancy) at NHPC, and Shri Satyapriya Rath, IAS, Managing Director of GRIDCO. The event was attended by Odisha’s Hon’ble Deputy Chief Minister and senior officials from state and central government departments. Shri Bidyadhar Moharana, Head of NHPC’s Odisha project unit, and other senior representatives from both organisations were also present.

Photo source: NHPC