Odisha Signs Rs 67,000 Cr Pacts to Boost Renewable Energy

• Odisha signs agreements worth ₹67,000 crore to develop 6.8 GW of renewable energy projects
• NHPC to set up 1,000 MW PSP, BPCL to develop solar and PSP projects
• The state offers attractive incentives under renewable energy policies,

The Odisha government signed agreements with the entities to boost renewable power projects worth ₹67,000 crore collectively.

Odisha renewable energy is set to witness ₹67,000 crore investment through renewable energy pacts, accelerating Odisha green energy projects, contributing to clean energy India, driving renewable capacity addition, aligned with State energy policy, and expanding solar and wind projects Odisha while promoting green investment India and supporting the energy transition Odisha.

GRIDCO established formal agreements with National Hydroelectric Power Corp (NHPC), Bharat Petroleum Corp Ltd (BPCL), North Eastern Electric Power Corp Ltd (NEEPCO), ABC Cleantech Pvt Ltd and Axis Energy Ventures India Pvt Ltd to build renewable energy facilities with a total capacity of 6.8 gigawatts.

The agreements were signed during the Odisha Renewable Energy Investor Conclave 2026, in the presence of Deputy Chief Minister KV Singh Deo. NHPC will establish a 1,000 MW pumped storage project (PSP), while BPCL plans a mix of ground-mounted solar, floating solar PV, and PSP projects.

ABC Cleantech Pvt Ltd, Axis Energy Ventures India Pvt Ltd will develop 5,000 MW of clean energy projects and NEEPCO will establish 800 MW of pumped storage capacity.

Also Read: Govt Allocates Rs 22,000 Cr for Green Energy Corridors

Singh Deo emphasized the state’s commitment to becoming a leader in India’s renewable energy sector. He stated, “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 added, “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”.

The Energy Department's Additional Chief Secretary Vishal Dev explained that Odisha has implemented multiple policies, which provide substantial incentives for renewable energy development to attract major investors while speeding up the shift toward clean energy.

He said, “Odisha has been ranked top in fiscal management by NITI Aayog in the country, further enhancing the confidence of the investors”.

The state of Odisha focuses on increasing its solar, hydro and other renewable energy resources to establish itself as a significant contributor to India's renewable energy development. The agreements demonstrate high investor confidence while showing how the state actively develops its sustainable energy infrastructure.