ReNew has signed a memorandum of understanding with the Odisha government to establish a 1,500 MW pumped hydro storage project at Putabali in Ganjam district. The project carries an estimated investment of Rs. 90 bn and is part of the company’s broader plans to invest approximately Rs. 450 bn in the state.

The agreement was signed on Tuesday at the Bharat Renewable Energy Summit 2026. Odisha Chief Minister Mohan Charan Majhi and Deputy Chief Minister Kanak Vardhan Singh Deo were present at the signing ceremony, which marked another proposed large-scale clean energy investment in the state.

ReNew founder chairman and chief executive officer Sumant Sinha said energy storage was becoming increasingly important to India’s clean energy transition. He said the company was focused on developing an integrated clean energy platform that combined renewable power generation, storage and supporting infrastructure.

The platform is intended to provide reliable, round-the-clock clean power, addressing the intermittency associated with renewable energy generation. The proposed storage facility in Ganjam is expected to support the wider integration of renewable electricity into the power system, while strengthening ReNew’s presence in Odisha.

In addition to energy infrastructure, ReNew has been undertaking community development initiatives in areas including education, essential services, sustainable livelihoods and climate resilience. The company said its investment programme in Odisha reflected a long-term commitment to clean energy infrastructure and was also aimed at supporting the state’s economic and social development.