Odisha Unveils Policy to Attract Investment in Pumped Storage

25 Sep 2025 CW Team

The Energy Department’s latest Operational Guidelines to Odisha PSP Policy identify potential locations for off-the-river closed-loop PSPs. With many sites still unregistered or unsurveyed by state and central agencies, and with the growing importance of long-duration energy storage, private developers have approached the state for site allocations. The government has now decided to allocate some sites to developers while safeguarding state interests.

The guidelines apply to all developers, including Central Public Sector Undertakings (CPSUs), State Public Sector Undertakings (SPSUs), private developers, joint ventures of CPSUs/SPSUs, government departments, and the nodal agency involved in PSP development.

The policy highlights that “discarded mines, including coal mines in Odisha, could serve as hydro storage sites, acting as natural enablers for PSP development.” The state will collaborate with the Ministry of Coal, Ministry of Mines, and respective state governments to identify and develop exhausted mines as prospective PSP sites.

Under the new framework, private developers can propose off-stream PSP projects. Key responsibilities include:

Developers: Identify sites not already registered as state-identified projects by the nodal agency.
Nodal Agency: Notify the opening of the window for receiving applications for self-identified off-stream PSPs, one month after publication of the guidelines. The initial window will last three weeks, extendable with government approval.
State and Central PSUs: Continue to identify feasible sites and undertake pre-feasibility assessments for notification as state-identified projects.

State-identified projects may be allocated on a nomination basis or through a Memorandum of Understanding (MoU) to CPSUs, SPSUs, or joint ventures, following evaluation of technical and financial capabilities.

All PSPs will be developed under a Build-Own-Operate-Transfer (BOOT) model. The initial concession period is 40 years, extendable by up to 30 years with state government approval. Upon completion, project assets will transfer to the state or a designated SPSU free of encumbrances. For captive PSPs, the transfer does not apply as long as the project maintains Captive Generating Plant (CGP) status.

Financial requirements mandate that developers have a minimum net worth of 20 per cent of the estimated project cost and submit audited accounts for the past five years. Proposals are invited from SPSUs, CPSUs, joint ventures, and private developers to develop these projects.

The Odisha government, after identifying 45 potential sites for Pumped Storage Projects (PSPs) earlier this year, has introduced a policy framework to monitor and regulate PSPs in the state. The policy is designed to attract investment from public and private developers and aligns with the PSP Policy 2025 and the Renewable Energy Policy 2022.The Energy Department’s latest Operational Guidelines to Odisha PSP Policy identify potential locations for off-the-river closed-loop PSPs. With many sites still unregistered or unsurveyed by state and central agencies, and with the growing importance of long-duration energy storage, private developers have approached the state for site allocations. The government has now decided to allocate some sites to developers while safeguarding state interests.The guidelines apply to all developers, including Central Public Sector Undertakings (CPSUs), State Public Sector Undertakings (SPSUs), private developers, joint ventures of CPSUs/SPSUs, government departments, and the nodal agency involved in PSP development.The policy highlights that “discarded mines, including coal mines in Odisha, could serve as hydro storage sites, acting as natural enablers for PSP development.” The state will collaborate with the Ministry of Coal, Ministry of Mines, and respective state governments to identify and develop exhausted mines as prospective PSP sites.Under the new framework, private developers can propose off-stream PSP projects. Key responsibilities include:Developers: Identify sites not already registered as state-identified projects by the nodal agency.Nodal Agency: Notify the opening of the window for receiving applications for self-identified off-stream PSPs, one month after publication of the guidelines. The initial window will last three weeks, extendable with government approval.State and Central PSUs: Continue to identify feasible sites and undertake pre-feasibility assessments for notification as state-identified projects.State-identified projects may be allocated on a nomination basis or through a Memorandum of Understanding (MoU) to CPSUs, SPSUs, or joint ventures, following evaluation of technical and financial capabilities.All PSPs will be developed under a Build-Own-Operate-Transfer (BOOT) model. The initial concession period is 40 years, extendable by up to 30 years with state government approval. Upon completion, project assets will transfer to the state or a designated SPSU free of encumbrances. For captive PSPs, the transfer does not apply as long as the project maintains Captive Generating Plant (CGP) status.Financial requirements mandate that developers have a minimum net worth of 20 per cent of the estimated project cost and submit audited accounts for the past five years. Proposals are invited from SPSUs, CPSUs, joint ventures, and private developers to develop these projects.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Infrastructure Urban

09 Jan 2026

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Infrastructure Urban

09 Jan 2026

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..