BHUBANESWAR: Odisha on Tuesday secured investment proposals of Rs 1.17 lakh crore through 18 MoUs for clean energy projects with a proposed capacity addition of 11,742 MW at the Bharat Renewable Energy Summit and Exhibition 2026 in New Delhi.
The projects cover pumped storage, solar, wind , hybrid renewable energy, battery storage, green hydrogen and green data centres, among other emerging technologies.
The MoUs were exchanged in the presence of Chief Minister Mohan Charan Majhi and deputy chief minister KV Singh Deo following the inauguration of Odisha Pavilion at Bharat Mandapam. GRIDCO managing director Satya Priya Rath exchanged the agreements with industry representatives.
Fenice Hydrogen has proposed to set up a green hydrogen project with an investment of Rs 23,750 crore. Shivalaya Construction Ltd has evinced interest in a 2,500 MW pump storage project worth Rs 22,000 crore and MACLEC Technical Project Laboratory Pvt Ltd for 1,540 MW hydro power project at a cost of Rs 19,444 crore.
Hinduja Renewables Energy Pvt Ltd has expressed intent for setting up a 2,400 MW pump storage project with an investment of Rs 12,500 crore while MeghaMani Renew Energy Pvt Ltd has proposed to invest Rs 10,000 crore on solar/wind/hybrid projects of 1,000 MW capacity. ReNew will set up a 1,500 MW pumped hydro storage project, with an estimated investment of Rs 9,000 crore.
Majhi described the development as a watershed moment in Odisha’s clean-energy transition. He said the state is ready to contribute significantly to Prime Minister Narendra Modi’s vision of making India self-reliant in clean energy.
The chief minister said Odisha aimed to become one of the top five power-exporting states and source 74 per cent of its installed power capacity from non-fossil fuel sources by 2047.
The state also envisages meeting at least 33 per cent of industrial electricity consumption through green power at competitive tariffs. Inviting investors to set up clean-energy projects in the state, the chief minister assured them of policy stability, transparent and time-bound approvals through the single-window mechanism and expansion of transmission infrastructure ahead of generation capacity.
He said the state had sanctioned Rs 15,948 crore under the Mukhya Mantri Shakti Bikash Yojana to modernise and expand its power transmission network. The ports at Paradip, Dhamra and Gopalpur offered significant opportunities for developing green-energy production and export facilities.
Addressing the Odisha state plenary on ‘Investment Opportunities in the Renewable Energy Sector in Odisha’, Union minister for New and Renewable Energy Pralhad Joshi highlighted Odisha’s strategic importance in India’s clean-energy transition, citing its natural resources, industrial base and port infrastructure. He identified renewable energy, energy storage, floating solar, wind power, green hydrogen and green ammonia as major investment opportunities.
Singh Deo said Odisha had successfully met a peak power demand of around 6,242 MW during the summer without scheduled load shedding. He ahighlighted the state’s potential in pumped storage, floating solar and wind energy, besides plans to develop green hydrogen and ammonia hubs at Gopalpur and Paradip.
Renewable energy capacity in Odisha stood at 3,641.23 MW as of September 30, 2026, against the state’s target of 10.96 GW by 2030 under its Renewable Energy Policy, 2022, MNRE secretary Santosh Kumar Sarangi said.
The summit also saw GRIDCO signing cooperation agreements with institutions in Odisha and Madhya Pradesh to promote research, technical collaboration, grid modernisation and renewable energy integration. Other major companies included NLC India, Adani Ports and SEZ, Avaada, Greenko, ACME, Evren and Brookfield Renewables.
