IAF conducted Exercise “Ranvijay” focussing integrated operations

The Indian Air Force (IAF) conducted Exercise ‘Ranvijay’ with a focus on integration, in which day and night operations were carried out by combat aircraft including Su (Sukhoi)-30s as part of integrated wargames to enhance the skills of fighter pilots.

• Exercise Ranvijay was carried out in UB Hills and Central Air Command (CAC) Area of Responsibility (AOR) from 16-23 June 2023.
• The exercise was carried out in different air bases of the CAC headquartered in Prayagraj, Uttar Pradesh (UP).
• As a part of the Government of India’s efforts to integrate the forces, different IAF commands carried out wargames and aerial drills to enhance cooperation with the other 2 services.

Note: Su-30, a twin-engine multirole fighter aircraft jointly developed by the Sukhoi Design Bureau, Russia and Hindustan Aeronautics Limited (HAL), India for the IAF.

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Just 2.4% of Climate Funds used as Supporting Child-Responsive Activities: UNICEF ReportOn June 22, 2023, new report ‘Falling short: Addressing the climate finance gap for children‘ was released by the members of the Children’s Environmental Rights Initiative (CERI) coalition; Plan International, Save the Children, and UNICEF (United Nations Children’s Fund).

• As per it, only 2.4% of key Multilateral Climate Funds (MCFs) support child-responsive activities, totaling a small portion of USD1.2 billion over a 17-year period until March 2023.
• This figure is likely an overestimate, as even less money is dedicated to meeting the requirements.

Highlights:
i.While MCFs play a crucial role in setting agendas, mobilizing investments from other public and private finance institutions, they contributed less than 4% of projects, representing 7% of MCF investment ($2.58 billion), prioritize the needs and involvement of girls.
ii.The UNICEF Children’s Climate Risk Index indicates that over a billion children face extremely high risks from climate impacts.
iii.Children are particularly vulnerable to water and food scarcity, water-borne diseases, and physical and psychological trauma due to climate effects.

• This also disrupts children’s access to basic services like education, healthcare, and clean drinking water.

Assessment:
The report used a set of three criteria to assess climate finance from MCFs serving the UNFCCC (United Nations Framework Convention on Climate Change) and Paris Agreement. These were:
i.Addressing the distinct and heightened risks they experience from the climate crisis,
ii.Strengthening the resilience of child-critical social services
iii.Empowering children as agents of change.
Key recommendations highlighted in Report:
i.Act swiftly to address the adaptation gap.
ii.Allocate funding for losses and damages caused by climate change.
iii.Prioritize children’s well-being and critical social services.
iv.Target the most vulnerable children at high risk due to climate impacts.

 

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Number of people battling Drug Addiction globally up to 296 million: UNODC World Drug Report 2023On June 25, 2023, the World Drug Report 2023 was launched by the United Nations Office on Drugs and Crime (UNODC). As per it, globally, over 296 million people used drugs in 2021, an increase of 23% over the previous decade.

• The number of people who suffer from drug use disorders also increased to 39.5 million, a 45% increase over 10 years.

What is in the report?
The report covers drug trafficking, environmental crimes, clinical trials with psychedelics and medical cannabis use, drug use in humanitarian settings, innovative drug treatment, drugs and conflict, socioeconomic inequalities driving drug challenges, environmental devastation caused by illicit drug economies, human rights abuses, and the growing prevalence of synthetic drugs.
Highlights:
i.The demand for treating drug-related disorders is largely unmet, with only one in five people receiving treatment for drug use in 2021.
ii.Youth populations are particularly vulnerable to drug use and are heavily impacted by substance use disorders in various regions, such as Africa where 70% of people in treatment are under the age of 35.
iii.There is a need for prioritizing public health, prevention measures, and improving access to treatment services.

• The right to health is not granted to many individuals who use drugs as inequalities persist in accessing and obtaining controlled drugs for medical purposes.

iv.Law enforcement responses should keep pace with agile criminal business models and the growing availability of cheap synthetic drugs in the market.

• The cheap, easy, and fast production of synthetic drugs has radically transformed many illicit drug markets.

Click Here for Report
About United Nations Office on Drugs and Crime (UNODC):
Executive Director/Director-General– Ghada Fathi Waly
Headquarters– Vienna, Australia

 

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MDBs, WHO launch health investment platform to strengthen primary healthcare3 Multilateral Development Banks(MDB) — the African Development Bank (AfDB), European Investment Bank (EIB), and the Islamic Development Bank (IsDB), have partnered with the World Health Organization (WHO) to launch the new Health Impact Investment Platform.

• This aims to strengthen and invest in climate and crisis-resilient Primary Healthcare Services (PHC) in low- and low-and-middle-income countries (LICs and LMICs).

Key Points:
i.The Platform was launched during the Summit for a New Global Financing Pact from 22-23 June in Paris, France.
ii.It will provide €1.5 billion to LICs and LMICs in the form of loans and grants for PHC services, for vulnerable populations and communities.
iii.WHO will act as the Health Impact Investment Platform’s policy coordinator, for financing decisions with national health priorities and strategies. The Platform’s secretariat will support governments to develop national health and prioritize primary healthcare investment plans in support of government health strategies.
NOTE: The Inter-American Development Bank (IDB) is also considering joining this partnership to expand this project to Latin America and the Caribbean region.
About World Health Organization (WHO):
Director general – Dr Tedros Adhanom Ghebreyesus (Ethiopia)
Headquartered – Geneva, Switzerland
Establishment – 1948

 

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Inflation is slowing down Personal Consumption Expenditure: RBI Report As per the article State of the Economy compiled by the Reserve Bank of India (RBI) officials, inflation is slowing down personal consumption expenditure. On the other hand, it is moderating corporate sales and holding back private investment in capacity creation.

• This article is a part of monthly RBI Bulletin released on June 23, 2023.
• It should be noted that the views expressed in this article are those of the authors and do not represent the views of RBI.

Key Points:
i.The manufacturing, construction, and services sector are the vivid areas on the aggregate supply side.
ii.Manufacturing posted a pick-up in net profits in January-March 2023 for the first time, after three consecutive quarters of slowdown in profitability.
iii.In construction sector, there will be growth driven by public spending on Capital Expenditure (Capex), including Public Sector Undertakings (PSUs), and surging launches and sale of residential housing units.
iv.Services, which constitutes more than 60% of the gross value added in the economy, are likely to sustain their post-pandemic resurgence.
v.Travel platforms, airlines and hotel chains have strong summer demand in spite of high air fares on both domestic and international routes, and hotel tariffs are already on par with pre-pandemic levels.
vi.In the e-commerce space, the Open Network for Digital Commerce (ONDC), substantially boost gross value added by the trade sector, accelerate overall economic growth and reap productivity gains.
vii.On the agriculture front, wheat procurement is 39.5% higher than the full season procurement last year from 2022.

• Revision in Minimum Support Prices (MSPs) for 14 major kharif crops led to an effective increase of 7.5% in procurement prices.

About Reserve Bank of India (RBI)
Governor – Shaktikanta Das
Deputy Governors –Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar, and Swaminathan Janakiraman
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra

 

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World Bank Approves USD 255.5 Million Loan to Enhance Technical Education in IndiaOn June 26, 2023, one of the World Bank’s institutions  International Bank for Reconstruction and Development (IBRD) granted a USD 255.5 million loan to India (with a maturity period of 14 years, including a grace period of five years), to improve the quality of technical education and expand career opportunities for students.
i. The project will span five years and benefit around 275 government-run technical institutions, reaching over 3.5 lakh students annually.
ii. The World Bank’s support for India’s technical education sector aims to equip students with the necessary skills for the evolving job market, promote gender equality, and foster research and innovation.
Multidisciplinary Education and Research Improvement in Technical Education Project: 
India’s tertiary education sector faces skill gaps in both technical and non-technical areas, as highlighted by recent studies. The Multidisciplinary Education and Research Improvement in Technical Education Project of World Bank, in line with India’s National Education Policy 2020, aims to tackle these challenges by focusing on improving student skills, employability, and institutional governance.

• This project will provide students with updated curricula that incorporate emerging technologies in communication and climate resilience.
• It will also enhance internship and placement services, fostering networking opportunities and supporting students’ success in their chosen fields.

The project prioritizes increasing female participation in technical education, particularly among marginalized communities. Outreach programs will be organised to address gender-related issues and misconceptions about women’s abilities in STEM (Science, Technology, Engineering and Math) fields. Female students will be encouraged to complete their courses successfully and gain practical experience.
Additional Info:
Furthermore, the project seeks to promote research and innovation in priority sectors like climate change and sustainable energy, fostering collaboration between academia, industry, and society. It will also strengthen governance and internal quality assurance mechanisms in the participating institutions.
About World Bank:
Establishment : July, 1944
Headquarters : Washington
President : Ajay Banga

 

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Infosys signs USD 454 million deal with Danske Bank to accelerate its digital transformation

On 26th June 2023, Infosys (Information Systems), India’s No.2 Information Technology (IT) service provider has collaborated with Denmark’s Danske Bank, by signing a deal valued at USD 454 million for 5 year period to accelerate its digital transformation.

• Infosys will help in digitalizing Danske Bank’s business by adding cloud, data facilities and it will also acquire Danske Bank’s IT centre in India in the financial year (FY) 2023-24.

The collaboration will help to achieve Danske Bank’s with better customer experiences, operational excellence, and a modernised technology landscape, powered by next-gen solutions.
Note: Infosys uses Infosys Topaz, an AI-first set of services, solutions and platforms, to accelerate the bank’s digital agenda.

 

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Five trailblazers win 1st UNESCO–AI Fozan International Prize for the Promotion of Young ScientistsThe 1st edition of UNESCO–AI Fozan International Prize 2023 was conferred upon five exceptional young scientists from Argentina, Cameroon, China, Egypt and Serbia during a ceremony at UNESCO (United Nations Educational, Scientific and Cultural Organization) headquarters in Paris, France.
The winners:
Dr Federico ARIEL (40 years old, Argentina)
He established the basis for the use of RNAs (Ribonucleic acid) to deliver information to plants that avoids recourse to Genetically Modified Organisms (GMOs).

• He designs special RNA molecules that act as exogenous natural substances to help plants adapt to environmental stress and resist harmful pathogens, thereby reducing the need for synthetic pesticides.
• This breakthrough will enable us to protect crops from pests and help them withstand heat waves using a GMO-free approach.

Professor Abdon ATANGANA (37 years old, Cameroon)
He has made significant contributions to mathematics, specifically in fractional calculus, differential equations, and mathematical modeling. These have practical applications in solving real-life problems like disease spread, heat transfer, groundwater flow, and weather patterns.
Professor Qiaomei FU (39 years old, China)
She retrieved ancient DNA from human remains and sediments, constructing an evolutionary map of Eurasian populations, particularly East Asian, spanning 100,000 years.
These findings unveils unique human diversity and shape our understanding of human genetic composition and traits.
Dr Hesham OMRAN (38 years old, Egypt)
He has led the development of a toolbox that revolutionizes the creation of efficient semiconductor chips which will save significant time in creating efficient chips for electronic devices like computers, phones, and electric vehicles.
Dr Jelena VLADIC (37 years old, Serbia)
She has developed innovative ecological extraction processes to obtain products from aromatic and medicinal plants and add value to food and agricultural waste.
Moreover, she has used microalgae from wastewater treatment to extract bioactive compounds.
Read full Information about Scientists Here
Prize Money:
The Prize consists of an award of US $ 50,000 for each of the five laureates as well as a medal and a diploma.
Jury:
The jury was composed of three scientists: Dr Edna Matta-Camacho, a structural biologist (Colombia) who founded STEM Tolina, an educational programme; Professor Didier Queloz (Switzerland), who shared the Nobel Prize for Physics with Michel Mayor in 2019 for the discovery of the first exoplanet; and Dr Fadji Zaouna Maina (Niger), an Earth scientist from the NASA (National Aeronautics and Space Administration) Goddard Space Flight Center in the United States (US).
About UNESCO–AI Fozan International Prize:
It was established by UNESCO in 2021 in partnership with the Al–Fozan Foundation in Saudi Arabia for the Promotion of Young Scientists in Science, Technology, Engineering and Mathematics (STEM). It recognizes the achievements of young people, particularly girls and women, that are conducive to socio-economic transformation and development on a global scale in science.

• It is awarded every two years to five laureates from the five geographic regions of UNESCO (Africa, Arab States, Asia and the Pacific, Europe and North America and Latin America and the Caribbean)
• It is also on the lines of United Nations 2030 Agenda for Sustainable Development.    

 

Kyriakos Mitsotakis wins second term as Greek PMOn 25th June 2023, Kyriakos Mitsotakis, leader of Greece’s centre-right New Democracy (ND) party, won the national election and secured a 2nd four-year term as the Prime Minister(PM) of Greece.

• He was sworn in as the PM of Greece on 26th June 2023 by the Archbishop of Athens, head of the Church of Greece.

Note: Kyriakos Mitsotakis served as the PM of Greece for the first term from July 2019 to May 2023. He has been serving as the President of the ND party since 2016.
National Election of Greece: 
The ND party had earned over 40% of the votes, 158 seats out of the 300 seats.  Its main opposition, Alexis Tsipras (former PM from 2015 to 2019)’s centre-left party Syriza, earned over 17% (about 48 seats) of the vote.

• The election held on 25th June 2023 was the second held in Greece in five weeks.
• The first election was held on 21st May 2023, in which the ND party came first with 145 seats but failed to secure an outright majority in the parliament (146 seats).

Note: Under Greek rules for a second election, the biggest party is awarded a bonus of between 20 and 50 seats. With more than 40% of the vote, ND won all 50 seats.
About Kyriakos Mitsotakis:
i.In 2003, Kyriakos Mitsotakis entered politics and was elected to parliament with the ND party in the March 2004 elections.

• Since 2004, he has participated in the Committee for Constitutional Amendment, the Committee for Trade and the Committee for National Defense as a member of the Parliament.
• He was re-elected in the general election in 2007, 2009, 2012 and 2015.

ii. He was the first in order parliamentary representative of ND in Parliament from February to November 2015.
iii. He has also served as the Minister of Administrative Reform and e-Government from June 2013 to January 2015.
iv.He was also an active member of the North Atlantic Treaty Organisation (NATO) Parliamentary Assembly.
Additional info:
Before entering politics, Kyriakos Mitsotakis worked as a financial analyst with Chase Investment Bank, and as a consultant with McKinsey and Company for ten years.
In 1999 he joined the National Bank of Greece as the chief executive officer (CEO) of NBG Venture Capital.
About Greece:
Capital- Athens
Prime Minister (PM)- Kyriakos Mitsotakis
Currency- Euro

 

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IUCAA delivered SUIT telescope to ISRO for the solar missionThe Solar Ultraviolet Imaging Telescope (SUIT), a space telescope developed by Pune’s Inter-University Center for Astronomy and Astrophysics (IUCAA), was delivered to the Indian Space Research Organisation (ISRO) for its ADITYA-L1 solar mission.

• SUIT is set to be one of the seven payloads of ADITYA-L1, India’s first mission to study the sun.
• The main purpose of the telescope is to study the Sun’s ultraviolet (UV) emissions and capture high-resolution images of the Sun’s atmosphere, known as the corona, in various UV wavelengths.

Features of SUIT telescope:
i. TheSUIT telescope will provide full disk images of the sun in the 2000 to 4000 A (1 angstrom = 10^-10 m) wavelength range which has never been obtained so far.
ii.Suit will operate in the far and near ultraviolet regions, covering wavelengths of 200-400 nanometers. It will observe the hotter and more dynamic regions of the Sun’s atmosphere, such as the transition region and the corona.
iii.The plan for SUIT was initiated by ISRO in 2012 and work started on its development in 2016.
iv. SUIT will study the dynamic of solar flares, sudden, violent outbursts of energy from the sun.
v.SUIT should be kept in a contamination free place. For that purpose  ISRO developed special filters to control the heat and light entering the telescope.
About Aditya L1 mission:
i.Aditya L1 will be placed in a halo orbit around the Lagrange point 1 (L1) of the Sun-Earth system, which is about 1.5 million km from the Earth.

• It is expected to launch at the end of August 2023.

ii.L1 point has the major advantage of continuously viewing the Sun without any eclipses.
iii.The main objectives of this mission include studying the sun’s atmosphere and dynamics of solar winds.
About SInter-University Centre for Astronomy and Astrophysics (IUCAA):
Director – R. Srianand
Established – 1988
Location – Pune, Maharashtra

 

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Nobel Laureate, Goodenough, the American Co-inventor of Lithium-ion Batteries Passed AwayOn 25th June 2023,  John Bannister Goodenough(100), the American co-inventor of Lithium-ion batteries and a co-winner of 2019 Nobel prize for Chemistry, passed away. He was born on 25th July 1922 in Jena, Germany.
Education and career:

• He served during the 2nd World War as a meteorologist in the United States(US) Army after studying mathematics at Yale University, US.
• In 1952, he studied at the University of Chicago, receiving a doctorate in physics.
• He later worked at the Massachusetts Institute of Technology (MIT) and Oxford University in Great Britain.
• Since 1986 he has been a professor at the University of Texas at Austin, US.

His works:
i.Goodenough also played a significant role in the development of Random Access Memory (RAM) for computers.
ii.In 1979 Goodenough and his collaborators developed a battery with a cathode of lithium ions having the potential of 4 volts between layers of cobalt oxide.
Awards:
He has been honoured with the National Medal of Science (2011), the Charles Stark Draper Prize (2014), and the Copley Medal (2019).
Books:
He wrote Magnetism and the Chemical Bond (1963), Solid Oxide Fuel Cell Technology: Principles, Performance and Operations (2009, with Kevin Huang), and an autobiography, Witness to Grace (2008).
Note: Goodenough shared the Nobel prize with British-born American chemist M. Stanley Whittingham and Japanese chemist Yoshino Akira. He was the oldest person to win a Nobel Prize.

 

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Rajya Sabha MP Hardwar Dubey passes away at 74On 26th June 2023, Hardwar Dubey, Member of Parliament (MP) – Rajya Sabha from Uttar Pradesh (UP), passed away at the age of 74 in New Delhi, Delhi.

• He was a member of the Bharatiya Janata Party (BJP) and was a sitting MP Rajya Sabha from UP since November 2020.

About Hardwar Dubey:
i.He was born on 1st July 194, in Hussainabad, Ballia district of Uttar Pradesh(UP).
ii.He served as a Member of Legislative Assembly (MLA) from Agra cantonment constituency twice, from 1989 to 1989 and 1991 to 1993.
iii.He served as the Minister of finance of the Uttar Pradesh government under the Chief Ministership of Kalyan Singh from 1991- 1992.
iv.During his tenure as the member of Rajya Sabha, He served as the member of various committees including Consultative Committee for the Ministry of Petroleum and Natural Gas, Committee on Industry, Joint Committee on Offices of Profit, and Committee on Personnel, Public Grievances, Law and Justice.

 

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Journalist Kasturi Ray authored a new book “Droupadi Murmu: From Tribal Hinterlands to Raisina Hills”

The new book titled “Droupadi Murmu: From Tribal Hinterlands to Raisina Hills” authored by journalist Kasturi Ray illustrates the challenges Murmu encountered on her path to success as India’s first president from a tribal community. The book is published by Rupa Publications, India, with a ‘Foreword’ by Kiran Bedi, Former Lieutenant Governor of Puducherry.

• Kasturi Ray analysed Murmu’s life from her school and college days to becoming a Teacher, Social worker, Counsellor, Minister, Governor of Jharkhand, and the President.

Kasturi Ray is a senior news editor at The New Indian Express in Bhubaneswar, Odisha and a South Asian Women in Media (SAWM)-United Nations Children’s Fund (UNICEF) fellow for reporting development journalism.
Noted Works: “Indira Gandhi: The Final Chapter” and “Mamata Banerjee: The Story of India’s Rebel Queen”.

 

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International Day in Support of Victims of Torture 2023 – June 26 The United Nations (UN)’s International Day in Support of Victims of Torture is annually observed across the world on 26th June to raise awareness and remind people that human torture is not only unacceptable, it is also a crime.
This day is also observed to speak out against the crime of torture and to honour and support victims and survivors of torture throughout the world.
Background:
i. On 12th December 1997, the United Nations General Assembly (UNGA) adopted the resolution A/RES/52/149 and proclaimed the 26th June of every year as United Nations International Day in Support of Victims of Torture.
ii. The first-ever International Day in Support of Victims of Torture was observed on 26th June 1998.
About United Nations (UN):
Founded in- 1945
Secretary-General- António Guterres
Headquarters- New York, the United States of America (USA)

 

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International Day Against Drug Abuse and Illicit Trafficking – June 26 2023The International Day against Drug Abuse and Illicit Trafficking, or World Drug Day, is annually observed across the globe on 26th June to create awareness regarding the negative effects of drug abuse and illegal trade.

• The United Nations Office on Drugs and Crimes (UNODC) has announced the theme for 2023 as ‘People first: Stop stigma and discrimination, strengthen prevention’.

Key Points:
i.The global event encourages people to quit drug usage and adopt a healthier lifestyle by conducting various campaigns, rallies, and awareness programs that create awareness about the ill effects of drug abuse.
ii.The main objective of celebrating this day is to understand the underlying causes of drug usage and promote evidence-based approaches to drug prevention and treatment.
About United Nations Office on Drugs and Crimes (UNODC):
Executive Director– Ghada Fathi Waly
Headquarters– Vienna, Austria

Day of the Seafarer 2023 – June 25 The United Nations (UN)’s Day of the Seafarer (DotS) is annually observed across the world on 25th June to raise awareness of the important role Seafarers play and the challenges they face in global trade. The day also offers a platform to recognise and honour the invaluable contributions of seafarers to the world economy and economic and social well-being.

• 25th June 2023 marks the observance of the 13th edition of the ‘Day of the Seafarer’
• The observance of the DotS is led by the International Maritime Organisation (IMO).

The theme/Campaign theme of Day of the Seafarer 2023 is “Seafarers, MARPOL, and the Marine Environment”.
Background:
i. Resolution 19 was adopted at the IMO’s Conference of Parties to the International Convention On Standards of Training, Certification and Watchkeeping for Seafarers (STCW), 1978 (the Diplomatic conference held in Manila, Philippines in June 2010) and proclaimed 25th June of every year as the Day of the Seafarer.
ii. The first-everDotS was observed on 25th June 2011.
About International Maritime Organisation (IMO):
Established in- 1948
Secretary-General- Kitack Lim
Headquarters- London, The United Kingdom (UK)

World Refrigeration Day 2023 – June 26 World Refrigeration Day (WRD) is annually observed across the world on 26th June to raise awareness and understanding of the important role that the refrigeration, air-conditioning and heat-pump industry and its technology play in modern life.

• WRD also celebrates the people and technologies responsible for creating and maintaining the world we live in, a world dependent upon temperature-controlled environments.
• WRD is an international awareness campaign established by the World Refrigeration Day Secretariat.

The theme/Campaign of WRD 2023 is “Next Generation Cooling: The Future is in our hands“, which focuses on the future of cooling technology, the industry and people working within it, and those that benefit from cooling.
Significance:
i. Next generation cooling is important because it can help reduce the energy consumption and carbon emissions (CO2) of cooling systems, which are becoming more widely used as the world gets hotter and more humid.
ii. The 2023 campaign in line with the theme of WRD 2022 ‘Cooling Matters’ will look forward with the aim of raising awareness of how the modern cooling industry is adapting and evolving to meet the challenges and opportunities the sector faces providing the increasing demand for low carbon cooling and heating solutions in a warming climate.
Background:
i. WRD was the idea of refrigeration consultant Stephen Gill, former president of the Institute of Refrigeration in the United Kingdom (UK), and it was started in coincidence with the establishment of the World Refrigeration Secretariat in 2019.
ii. The first-ever WRD was observed on 26th June 2019.
Note: It was an immediate monumental success when more than 800 physical events took place in at least 153 countries around the world.
Why June 26?
The day 26th June was chosen by signifying the birthday of Lord Kelvin, also known as William Thomson, Scotsman Kelvin, a renowned inventor inventing an international system of measuring absolute temperature, which is obviously a vital part of refrigeration.
Additional info:
i. In 2019 the United Nations (UN)’s Environment’s OzonAction Programme (UNEP) announced its partnership with WRD to promote awareness of the importance of refrigeration.
ii. According to the International Energy Agency, Air Conditioners (AC) account for nearly 20% of the total electricity used in buildings around the world today, and their use is set to rise over the next three decades, becoming one of the top drivers of global electricity demand.

 

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NHPC and GRIDCO signed a MoU for developing Solar Energy Projects in Odisha

On 23rd June 2023, NHPC Limited (erstwhile National Hydroelectric Power Corporation), India’s largest hydropower development company signed a Memorandum of Understanding (MoU) with GRIDCO Limited (Grid Corporation of Odisha), a Government of Odisha undertaking for the development of pumped storage projects (PSPs) and renewable energy in Odisha.

• The MoU envisions setting up Self-identified PSPs of at least 2,000 megawatts (MW) and renewable energy projects (on-ground and floating solar projects) of at least 1,000 MW in Odisha.