Bhakra Beas Management Board (BBMB) has invited expressions of interest (EoI) to develop 4,300 MW pumped storage projects in Himachal Pradesh.

The last date to submit bids is January 27, 2026.

The EoI is being floated for the development of a 2,800 MW PSP in the Pong reservoir and a 1,500 MW PSP in the Bhakra reservoir.

The scope of work covers identifying potential developers/investors interested in developing PSPs and determining the preferred project capacity configuration, phasing, and technical parameters for the projects.

It also covers industry feedback on the tariff-based competitive bidding, the special-purpose vehicle development model, the concession structure, and the tariff structure.

Successful bidders must also provide suggestions on risk allocation related to land, geology, hydrology, statutory clearances, financing, constriction and off-take arrangements.

They must also take feedback on implementation timelines and construction strategy.

The responses submitted by the bidders will be used solely by BBMB for planning and structuring its future tenders.

Apart from Pong and Bhakra reservoirs, BBMB is responsible for the operation, maintenance, and management of major hydroelectric projects, including Nangal and the associated reservoir in the northern part of the country.

BBMB plans to execute pumped storage projects using these reservoirs as lower reservoirs and to construct new reservoirs in the upper reach of the hill adjacent to these reservoirs.

BBMB has identified eight potential pumped-storage project sites in the Bhakra-Beas system, with an aggregated installed capacity of 13,000 MW.

It is floating the EoI to assess market interest in developing PSPs under a tariff-based competitive bidding mode.

The EoI also aims to seek feedback from potential developers, investors, and stakeholders about PSP projects.

BBMB also aims to understand the technical, commercial, and financial perspectives of interested bidders and facilitate the formulation of an appropriate bid structure for future requests for proposal.

Successful bidders must have developed, constructed, and operationalized projects in at least one of the sectors: hydropower, PSPs, power generation, transmission, and large infrastructure.

They must have a minimum net worth of ₹10 billion (~$110.06 million) in the last financial year.

According to Mercom  India’s Energy Storage Landscape 1H 2025 Report, the country has an operational pumped storage capacity of 5 GW.

Among energy storage projects, PSP remained the largest segment, with more than 81 GW in the pipeline, including approximately 12.4 GW under construction, and about 3.3 GW in the pre-construction stage.

The 81 GW of pipeline PSP projects include over 2.4 GW under examination after the detailed project report submission and nearly 63 GW in the survey and investigation phase.

To boost PSP projects, the Ministry of Power exempted off-stream closed-loop pumped storage projects, irrespective of the quantum of capital expenditure, from the requirement for concurrence by the Central Electricity Authority.