The Odisha Cabinet has approved amendments to the state’s pumped storage project (PSP) policy to facilitate investment and simplify project development. A key amendment is the extension of the registration window for PSP developers from three weeks to three months, allowing more time for site assessment and feasibility studies.
The amendments cap the right of first refusal at 25 per cent for captive users and 50 per cent for independent power producers. The state government will decide on power procurement within 60 days, based on tariff viability. Further, Central Public Sector Undertakings and State Public Sector Undertakings can develop identified PSP sites through memorandums of understandings or nomination basis. These sites will be treated on par with those identified by the state government. The revised policy sets the registration fee for developers at Rs 10,000 per MW, subject to a maximum of Rs 10 million per project.