NHPC Limited and ONGC Green Limited (OGL) have signed a Memorandum of Understanding (MoU) to explore opportunities for the development of pumped storage projects (PSPs) and other renewable energy projects across India. The MoU was signed on June 24, 2026, by Abhayanand Thakur, Executive Director (SBD&C), NHPC, and Harsh Nupur Joshi, Chief Executive Officer, ONGC…
The Government of India, acting through the Ministry of Power as the promoter of NHPC Limited, has exercised the oversubscription option for its Offer for Sale (OFS), increasing the total stake sale from 3% to 6% of NHPC’s paid-up equity share capital. Under the base offer, the government proposed to sell 30,13,51,044 equity shares, representing…
NHPC Limited has secured Terms of Reference (ToR) for its proposed 2,400 MW Savitri Open Loop Pumped Storage Project in Maharashtra from the Expert Appraisal Committee (EAC) for River Valley and Hydroelectric Projects. The approval resolves a delay caused by the need for a formal clearance from the Mahabaleshwar–Panchgani Eco-Sensitive Zone (ESZ) Monitoring Committee. The…
India’s renewable energy expansion is increasing the need for large-scale energy storage to balance electricity supply and demand. The Central Electricity Authority (CEA) estimates that India will require 60.63 GW of energy storage capacity by 2029-30, compared with about 5.5 GW currently installed. India will need to add roughly 55 GW of new storage capacity…
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 Central Electricity Authority (CEA) has released a roadmap outlining how India plans to achieve 100 GW of Hydro Pumped Storage Projects capacity by 2035–36. Along with capacity projections, the document sets out policy, regulatory and financial measures to accelerate project development and improve viability. The roadmap projects cumulative PSP capacity of about 100,810 MW…
The Ministry of Environment, Forest and Climate Change (MoEFCC) held the 46th meeting of the Expert Appraisal Committee (EAC) for River Valley and Hydroelectric Projects on January 9, 2026. Conducted virtually, the meeting reviewed multiple pumped storage and hydroelectric proposals across India. Several projects received approvals or amendments, while others were deferred or returned for…
Larsen and Toubro Limited (L&T) has secured a large contract from Torrent Energy Storage Solutions Private Limited for the construction of the 3,000 MW Saidongar-1 Pumped Storage Project (PSP) in Raigad, Maharashtra. The project is set to become the largest pumped storage facility in India. The order has been awarded to L&T’s Heavy Civil Infrastructure…
In a regulatory filing dated 23 December 2025, NTPC Limited stated that its board of directors granted in principle approval to form a 50:50 joint venture in India with EDF Power Solutions India Private Limited. The proposed joint venture will focus on the development of Pumped Storage Plants (PSP), which support large scale energy storage…
SJVN Limited has issued a tender to develop 2 GW of energy storage capacity through pumped storage projects across India. The projects will be set up on a build-own-operate model and will provide eight hours of discharge, including up to five hours of continuous discharge. The tender states that bidders will be responsible for the…