National Hydro Electric Power Corporation (NHPC) signed a memorandum of understanding (MoU) with Grid Corporation of Odisha (GRIDCO) for the development of pumped storage and renewable energy (RE) projects in Odisha.

A hydropower development company signed the MoU with the aim to set up a storage project of 2,000 MW and RE projects (on-ground and floating solar projects) of 1,000 MW in the state

As part of carbon reduction plans, India is committed to an ambitious five-part 'Panchamrit', which includes reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by one billion tonne by 2030 and also committing to net-zero emissions by 2070.