Odisha govt inks pacts to add renewable energy capacity worth Rs 67,000 cr

The Odisha government on Thursday inked agreements for the establishment of renewable projects with a cumulative investment of Rs 67,000 crore. GRIDCO, under the state Energy Department, signed the agreements with National Hydroelectric Power Corp (NHPC), Bharat Petroleum Corp Ltd (BPCL), North Eastern Electric Power Corp Ltd (NEEPCO), and ABC Cleantech Pvt Ltd & Axis Energy Ventures India Pvt Ltd for developing 6.8 gw of renewable energy, a statement said. The MoUs were signed in the presence of Deputy CM KV Singh Deo during the inauguration of the Odisha Renewable Energy Investor Conclave 2026. NHPC would set up a pumped storage project (PSP) of 1,000 mw, while BPCL proposed to set up ground-mounted solar, floating solar PV, and pumped storage projects, the statement said. The MoU with ABC Cleantech Pvt Ltd & Axis Energy Ventures India Pvt Ltd was signed for the development of 5,000 mw of clean energy, it said. The agreement was signed with NEEPCO for the development of 800 mw of pumped storage projects (PSP), it added. Singh Deo said the state was committed to being the frontrunner in the renewable energy sector in the country. ''India has a bold 500-gw non-fossil energy target by 2030, and Odisha is contributing meaningfully to it. Odisha's coastline provides the state a distinct advantage to develop wind energy, alongside solar and small hydro,'' he said. ''We also have huge storage potential. On the regulatory front, we offer robust policies and a favourable approval process. This two-day conclave will not only support Odisha's renewable growth, but will also be important for the country,'' he added. Energy Department's Additional Chief Secretary (ACS) Vishal Dev said the state government has floated several policies, offering impressive incentives for renewable energy projects. ''Odisha has been ranked top in fiscal management by NITI Aayog in the country, further enhancing the confidence of the investors,'' he said.