Odisha Chief Minister Mohan Charan Majhi on Wednesday welcomed the Union Cabinet’s approval of a Rs 14,500-crore viability gap funding (VGF) scheme for grid-scale energy storage projects, saying it would strengthen renewable energy infrastructure and ensure round-the-clock power supply.The announcement comes a day after Odisha secured investment proposals worth Rs 1.17 lakh crore for clean energy projects with a proposed capacity of 11,742 MW at the Bharat Renewable Energy Summit and Exhibition 2026 in New Delhi. These included pumped storage projects of 7,200 MW, involving an investment proposal of Rs 48,863 crore.Focus On Energy Storage.In a post on X, CM Majhi said the scheme would support Battery Energy Storage Systems (BESS), Pumped Storage Projects (PSPs) and emerging technologies. It would also promote renewable energy integration, reliable power supply and domestic battery manufacturing, reducing dependence on imports.Deputy Chief Minister and Energy Minister KV Singh Deo also welcomed the decision, saying Odisha was ready to contribute to the national mission through energy innovation and sustainable development.Rs 97,600-Crore Investment Planned.The scheme envisages 60 GWh of hydro pumped storage, 30 GWh of battery storage and 2 GWh through alternative technologies, with a total estimated investment of Rs 97,600 crore.Projects will be selected through tariff-based competitive bidding. Public and private sector distribution companies will be eligible for funding support for battery and hydro-pumped storage projects. Both public and private entities can implement projects using alternative storage technologies, according to The New Indian Express.
Odisha CM welcomes Rs 14,500-crore VGF scheme for energy storage
