Odisha Renewable Energy Investor Conclave 2026 Secures Massive Rs 67,000 Crore Investment Commitments
The Odisha Renewable Energy Investor Conclave 2026, held in Bhubaneswar on Thursday, has successfully secured investment commitments worth a staggering Rs 67,000 crore. This monumental funding is earmarked for developing nearly 6.8 gigawatts (GW) of renewable energy capacity across the state.
Diverse Portfolio of Renewable Projects Unveiled
The conclave unveiled an ambitious and diverse portfolio of projects that will significantly boost Odisha's clean energy infrastructure. Key highlights include over 5,000 megawatts (MW) of floating solar projects, 18,000 MW of pumped storage capacity, and 500 megawatt-hours (MWh) of battery storage systems.
Additional opportunities were presented in wind energy, distributed renewables, agrivoltaics (combining agriculture with solar power), small hydroelectric projects, and innovative waste-to-energy initiatives. This comprehensive approach ensures a balanced and sustainable energy mix for the state's future.
High-Level Participation and Strategic Partnerships
The two-day event was organized by the Odisha Energy Department in collaboration with GRIDCO Ltd, bringing together a wide array of stakeholders. Policymakers, project developers, financial institutions, technology providers, and industry leaders gathered to accelerate renewable energy deployment across the state.
The International Forum for Environment, Sustainability and Technology (iFOREST) served as the knowledge partner, providing expert insights and research support. Deputy Chief Minister K V Singh Deo inaugurated the conclave, marking the occasion with two significant launches.
Key Initiatives and Government Commitment
Deputy Chief Minister Singh Deo launched Odisha's first-ever wind resource assessment initiative, a crucial step for harnessing the state's coastal wind potential. He also introduced a city accelerator programme targeting six urban centers to promote localized renewable energy solutions.
"Odisha is firmly committed to becoming a frontrunner in India's renewable energy sector," declared Singh Deo. "As our nation progresses toward achieving its ambitious target of 500 GW from non-fossil fuel sources by 2030, Odisha is contributing meaningfully to this national mission."
He highlighted the state's natural advantages, including a long coastline ideal for wind energy development, strong solar irradiation, and significant potential for small hydro projects. Singh Deo emphasized that Odisha offers investors a robust policy framework and a streamlined, efficient approval process to facilitate project implementation.
"We have already mobilized Rs 67,000 crore for renewable energy projects in Odisha, which is a remarkable achievement for the eastern region of India," the Deputy Chief Minister added with pride.
Strategic MoUs and Corporate Confidence
The conclave witnessed the signing of five strategic Memoranda of Understanding (MoUs) with major public and private sector entities. These agreements were inked with NHPC, BPCL, NEEPCO, ABC Cleantech Pvt Ltd, and Axis Energy Ventures in partnership with Vasudha.
The MoUs cover a wide spectrum of technologies, including pumped storage hydroelectricity, floating and ground-mounted solar installations, wind-solar hybrid projects, and pioneering green hydrogen derivative production.
K Ravi Kumar, Chairman of ABC Cleantech Pvt Ltd, expressed strong confidence in Odisha's potential. "We view Odisha as one of the most promising renewable energy destinations in the entire country," he stated. "With strong policy support, abundant natural resources, and proactive facilitation by the state government, we are committing investments exceeding Rs 40,000 crore across wind, solar, hybrid, and green hydrogen projects."
Ravi Kumar further added, "We are confident that our partnership with the state will significantly contribute to India's clean energy transition while generating substantial local employment opportunities and fostering sustainable economic growth."
Focus on Grid Stability and Institutional Support
Additional Chief Secretary (Energy) Vishal Kumar Dev outlined the state's holistic approach, noting that the focus extends beyond mere capacity addition. "Ensuring grid stability through advanced solutions like pumped storage and battery energy storage systems is a critical priority for us," he explained.
GRIDCO Managing Director Satyapriya Rath highlighted the institutional mechanisms in place to support investors. "A dedicated Renewable Energy Nodal Agency (RENA) cell has been established to facilitate projects from initial conceptualization right through to final commissioning, ensuring a smooth and efficient process," Rath informed the gathering.
Signaling Confidence and Regional Leadership
State officials noted that the overwhelming investor participation and substantial financial commitments signal growing confidence in Odisha's comprehensive clean energy roadmap. This success reinforces the state's ambition to emerge as the premier renewable energy growth hub for eastern India, driving both environmental sustainability and economic development in the region.
