Pumped Storage
NHPC plans to commission two pumped storage projects over next 5 years
This story was originally published at 16:18 IST on 21 March 2026
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By Gunjan Rajput and Shakshi Jain
NEW DELHI – State-run NHPC Ltd. is looking to commission two pumped storage projects over the next five years, including a 640-megawatt project in Madhya Pradesh and a 1,000-MW project at Masinta in Odisha, a senior company official said.
He said the company plans to convert two hydrostations in Madhya Pradesh into a pumped storage project and tender for this will be issued in 3-4 months. Overall, the company is currently working on 17 pumped storage projects, the official said on the sidelines of an event in Delhi.
Work on other pumped storage projects, including Savitri in Maharashtra and Gadikota in Andhra Pradesh, is progressing at a fast pace, the official said.
In June 2023, Narmada Hydroelectric Development Corp. Ltd., a joint venture between NHPC Ltd. and the Madhya Pradesh government, said it would develop a pumped storage project near Indira Sagar Dam in Khandwa district using existing reservoirs.
NHPC plans to fund these projects with a debt-equity mix of 70:30, with money to be raised from public sector banks through open tenders. "A lot of public sector banks are coming forward. We are getting very competitive rates," the official said, adding that the company recently secured funding at around 7.2%, compared with over 8–9?rlier.
For the December quarter, the company's net profit was INR 2.93 billion on revenue of INR 18.77 billion. Friday, shares of the company closed at INR 76.80 on the National Stock Exchange, up 0.7%. End
Edited by Akul Nishant Akhoury
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