BHUBANESWAR: In a major push to Odisha’s clean energy sector, the state government on Thursday received investment commitments worth Rs 67,000 crore for generation of 6.8 gigawatt energy through renewable sources.
The proposals were received in the 3rd edition of Odisha Renewable Energy Investor Conclave-2026 inaugurated by deputy chief minister and Energy minister KV Singh Deo here.
The Gridco signed MoUs with the ABC Cleantech Private Limited (Evren) and Axis Energy Ventures India Private Limited for development of RE projects of 5,000 megawatt (MW) capacity at an investment of Rs 47,750 crore. The investment will span across wind, agro-voltaic, solar power, wind, hybrid solar with BESS, and green hydrogen and derivatives.
It also signed MoUs with National Hydroelectric Power Corporation (NHPC) Limited for development of Masintha pumped storage project (PSP) of 1,000 MW capacity at an investment of Rs 6,036 crore and North Eastern Electric Power Corporation Limited (NEEPCO) for development of Dandadhar PSP project of 800 MW capacity at an investment of Rs 4,000 crore. The Bharat Petroleum Corporation Limited (BPCL) also inked a pact with Gridco to develop RE projects of 500 MW capacity at an investment of Rs 3,000 crore.
Officials said the state on the first day of the conclave also received additional investment intents of over Rs 6,000 crore in the RE sector from the private sector.
Addressing the conclave Singh Deo said Odisha is emerging as the frontrunner in the renewable energy sector of the country and contributing meaningfully to India’s bold target of achieving 500 GW non-fossil energy by 2030. “Odisha’s coastline provides the state a distinct advantage to develop wind energy, alongside solar and small hydro. We also have huge storage potential. On the regulatory front, we offer robust policies and favourable approval process. All these make our state an ideal investment destination in the RE sector and this investors’ conclave is expected to push state’s renewable growth further,” Singh Deo said.
The deputy CM inaugurated state’s first wind resource assessment project to study the wind energy potential of the state. He also launched a city accelerator programme for six cities of the state under PM Surya Ghar Muft Bijli Yojana.
Additional chief secretary of Energy department Vishal Kumar Dev said the current fossil energy use of the state is about 54 per cent and renewable energy around 46 per cent. “However, we have set a target to generate about 11 GW renewable energy by 2030. By 2047 we are looking to have 74 per cent of our energy coming from the renewable energy sector,” he said.
Dev said they are hopeful of getting investment intents for around 10 GW renewable energy projects during the two-day conclave. “Through the Renewable Energy Nodal Agency (RENA) Cell, Gridco is facilitating project development from conceptualisation to commissioning. We are committed to enabling transparent procurement, assured offtake and timely bid processes for the projects,” said Gridco MD Satyapriya Rath.