- Odisha signed 18 MoUs representing proposed investments of approximately ₹1,17,557 crore.
- The proposed projects could add around 11,742 MW of clean energy capacity across multiple sectors.
- Odisha aims to source 74 per cent of its installed power capacity from non-fossil fuel sources by 2047.
Bhubaneswar: Odisha has attracted investment proposals worth approximately ₹1,17,557 crore through 18 Memoranda of Understanding (MoUs) signed at the Bharat Renewable Energy Summit and Expo 2026 in New Delhi. The proposed projects are expected to add around 11,742 MW of clean energy generation capacity in the state.
The agreements mark a major step in Odisha’s efforts to strengthen its renewable energy sector and emerge as a leading clean energy destination in eastern India.
The MoUs were exchanged on November 3 at Bharat Mandapam in the presence of Chief Minister Mohan Charan Majhi and Deputy Chief Minister Kanak Vardhan Singh Deo.
18 MoUs Cover Multiple Clean Energy Sectors
The proposed investments cover several renewable energy and emerging technology sectors, including:
- Pumped storage hydropower projects
- Solar power generation
- Wind energy
- Hybrid renewable energy projects
- Battery energy storage systems
- Green hydrogen
- Green data centres
- Other emerging clean energy technologies
The agreements involve private companies and institutions interested in developing Odisha’s renewable energy infrastructure.
Some major proposals include a ₹23,750 crore green hydrogen project by Fenice Hydrogen, a 2,500 MW pumped storage project worth ₹22,000 crore by Shivalaya Construction, and a 1,540 MW hydro power project proposed by MACLEC Technical Project Laboratory at an estimated investment of ₹19,444 crore.
Hinduja Renewables Energy has also proposed a 2,400 MW pumped storage project involving ₹12,500 crore, while ReNew has proposed a 1,500 MW pumped hydro storage project worth ₹9,000 crore.
Odisha Targets 74% Non-Fossil Power Capacity by 2047
Chief Minister Mohan Charan Majhi outlined the state’s long-term renewable energy ambitions at the summit.
Odisha aims to source 74 per cent of its total installed electricity capacity from non-fossil fuel sources by 2047.
The state also aims to become one of India’s top five power-exporting states and meet at least 33 per cent of industrial electricity consumption through green power at competitive tariffs.
The Chief Minister highlighted policy stability, transparent approvals through the single-window clearance system and expansion of transmission infrastructure as key priorities for attracting investors.
₹15,948 Crore for Power Transmission Infrastructure
The state government is also focusing on strengthening its electricity transmission network to support future renewable energy projects.
According to the government, ₹15,948 crore has been sanctioned under the Mukhya Mantri Shakti Bikash Yojana for modernising and expanding Odisha’s power transmission infrastructure.
The state’s ports at Paradip, Dhamra and Gopalpur are also expected to provide opportunities for developing green energy production and export facilities.
Odisha’s Renewable Energy Targets
Odisha has set ambitious targets for expanding its clean energy capacity over the coming years.
The state aims to develop:
- 7,000 MW of floating solar capacity by 2036.
- 26,000 MW of pumped storage capacity by 2047.
- Around 1,000 MW of wind energy capacity by 2047.
- 10.96 GW of total renewable energy capacity by 2030 under the Odisha Renewable Energy Policy, 2022.
The state’s installed renewable energy capacity stood at 3,641.23 MW as of September 30, 2026, according to figures presented at the summit.
GRIDCO Signs Separate Agreements for Energy Research
Apart from the investment MoUs, GRIDCO Limited signed separate collaboration agreements with the Centre for Mission on Energy Transition at MANIT Bhopal, Madhya Pradesh Urja Vikas Nigam Limited and IIT Bhubaneswar.
The partnerships will focus on renewable energy integration, power grid modernisation, research, technical collaboration and capacity building.
The collaboration is expected to help Odisha address technical challenges associated with integrating larger volumes of renewable energy into its electricity network.
More Than 900 Delegates Attend Odisha Investment Session
The summit also hosted an Odisha State Plenary on investment opportunities in the renewable energy sector.
More than 900 delegates participated in the session, which highlighted the state’s renewable energy potential, industrial ecosystem, infrastructure and investment opportunities.
Union Minister for New and Renewable Energy Pralhad Joshi highlighted Odisha’s potential in floating solar, wind power, energy storage, green hydrogen and green ammonia production.
The proposed investments are expected to strengthen Odisha’s clean energy ambitions, although the projects will need to move through subsequent implementation stages before the proposed capacity becomes operational.
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