The Odisha government has signed MoUs worth ₹67,000 crore to build 6.8 GW of renewable energy capacity. This step is a big step forward for the state’s plans to expand its clean energy sources.
The agreements were executed by GRIDCO under the State Energy Department with National Hydroelectric Power Corporation (NHPC), Bharat Petroleum Corporation Ltd (BPCL), North Eastern Electric Power Corporation Ltd (NEEPCO), and a consortium of ABC Cleantech Pvt Ltd and Axis Energy Ventures India Pvt Ltd.
The MoUs were formalized during the inauguration of the Odisha Renewable Energy Investor Conclave 2026 in the presence of Deputy Chief Minister K.V. Singh Deo.
Project Details
Under the agreements, NHPC will develop a 1,000 MW pumped storage project (PSP). NEEPCO will add 800 MW of additional pumped storage capacity. BPCL has proposed a combination of ground-mounted solar, floating solar photovoltaic (PV), and pumped storage projects.
Meanwhile, ABC Cleantech and Axis Energy Ventures will jointly develop up to 5,000 MW of clean energy capacity.
State’s Renewable Energy Vision
Speaking at the event, Singh Deo reaffirmed Odisha’s goal of becoming a leader in renewable energy. He pointed to the state’s long coastline as a strong advantage for wind energy development. He also highlighted Odisha’s solar and small hydro potential, along with its storage capacity and supportive regulatory environment.
Vishal Dev, the Additional Chief Secretary (Energy), said that policies that are good for investors, tax breaks, and high rankings for Odisha’s fiscal management by NITI Aayog have all made investors more confident in the state’s renewable energy sector.
Supporting India’s 2030 Target
The planned investments are expected to significantly enhance Odisha’s contribution toward India’s target of achieving 500 GW of non-fossil fuel capacity by 2030.
With large-scale solar, wind, and storage projects in the pipeline, the state is positioning itself as a key contributor to India’s clean energy transition while attracting substantial private and public sector investment.
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