The Odisha Cabinet has approved an estimated 4,708.64 INR-Crore Upper Indravati project, marking the state’s first large-scale pumped storage facility. The 600 MW project will be developed at Ranibahal in Kalahandi district. It was among 13 proposals cleared during a cabinet meeting chaired by Chief Minister Mohan Charan Majhi, on Monday, November 9.
Odisha Hydro Power Corporation Limited (OHPC) will implement the Upper Indravati project through Megha Engineering & Infrastructures Ltd. The company secured the EPC contract worth nearly 3,372.88 INR-Crore, excluding GST. The total investment also covers consultancy, land acquisition, forest clearances, and interest during construction. The project will be financed through an 80:20 debt-to-equity structure. OHPC will contribute 20% equity from internal reserves. Meanwhile, the Odisha Government will provide the remaining 80% as a phased soft loan linked to the RBI repo rate.
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The Upper Indravati project is targeted for commissioning by FY31. Designed as an off-stream, open-loop scheme, it will use the existing reservoir of the operational 600 MW Upper Indravati Hydro-Electric Project as part of its storage system. Once operational, the facility will generate around 1,040 Million-Units of peak electricity annually. Additionally, it will use 1,283 Million-Units of off-peak energy for pumping operations. The project will require an anticipated 164 Hectares (Ha) of land.
Furthermore, the pumped storage facility will store surplus electricity during off-peak hours and release power during periods of high demand. Consequently, it will support grid stability and strengthen Odisha’s growing renewable energy infrastructure.
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