Odisha emerges as Eastern India’s leading Clean Energy Investment Hub, secures Rs 67,000 crore commitments

Bhubaneswar: Odisha has firmly positioned itself as Eastern India’s leading destination for clean energy investments with the successful hosting of the third Odisha Renewable Energy Investor Conclave 2026, which mobilised investment commitments worth Rs 67,000 crore for around 6.8 GW of renewable and storage capacity.

Conclave brings together Global and Domestic stakeholders

Organised by the Energy Department, Government of Odisha, in collaboration with GRIDCO Limited, the two-day conclave brought together policymakers, investors, developers, financial institutions, technology providers and industry leaders to accelerate renewable energy deployment. The International Forum for Environment, Sustainability and Technology (iFOREST) served as the Knowledge Partner.

Deputy CM inaugurates key initiatives

The conclave was inaugurated by Deputy Chief Minister Kanak Vardhan Singh Deo, who also launched the state’s first wind resource assessment and a city accelerator programme for six cities in Odisha.

Addressing the inaugural session, Singh Deo said Odisha is committed to becoming a frontrunner in India’s renewable energy journey. “India has set a bold target of 500 GW of non-fossil energy by 2030, and Odisha is contributing meaningfully to it. Our coastline gives us a distinct advantage in wind energy, alongside solar and small hydro. With robust policies and a favourable approval process, Odisha offers a strong ecosystem for renewable growth,” he said.

Focus on storage and grid stability

Additional Chief Secretary, Energy Department, Vishal Kumar Dev emphasised that Odisha’s strategy goes beyond capacity addition. “Our objective is system integration. By advancing pumped storage and battery energy storage systems alongside renewables, we are ensuring grid stability and long-term energy security. This year’s conclave mobilised Rs 67,000 crore against 6.8 GW through investor commitments and MoUs,” he said.

Eastern India’s untapped potential highlighted

SECI Managing Director Akash Tripathi noted that renewable energy adoption is both a climate and economic imperative. “Odisha has immense potential in floating solar and wind and can emerge as a major storage hub through pumped storage projects,” he said.

Dr Chandra Bhushan, CEO and President, iFOREST, said Odisha’s proactive push for floating solar, pumped storage and battery storage will be critical for India’s next phase of renewable expansion, especially in Eastern India.

Robust project pipeline unveiled

During the conclave, Odisha showcased a diversified clean energy pipeline, including over 5,000 MW of floating solar photovoltaic projects, 18,000 MW of pumped storage projects across 36 identified sites, and 500 MWh of battery energy storage systems supported by viability gap funding. Opportunities in wind energy, distributed renewables, small hydro, agrivoltaics and waste-to-energy were also presented.

GRIDCO to facilitate end-to-end project development

GRIDCO Managing Director Dr Satyapriya Rath said the Renewable Energy Nodal Agency (RENA) Cell is facilitating projects from conceptualisation to commissioning. “We are committed to transparent procurement, assured offtake and timely bid processes,” he said.

Five MoUs signed with major players

A total of five MoUs were signed between GRIDCO, on behalf of the Energy Department, and investors and partners. These include NHPC for 1,000 MW of pumped storage projects, BPCL for solar and pumped storage projects, NEEPCO for 800 MW of pumped storage, ABC Cleantech and Axis Energy Ventures for 5,000 MW across multiple clean energy segments including green hydrogen, and Vasudha as a knowledge partner for floating solar and agri-PV projects.

Strong private sector participation

OPTCL Chairman-cum-Managing Director Shri Bhaskar Jyoti Sarma was also present at the conclave, which saw strong private sector participation. Technology-specific sessions on small hydropower, battery storage and biomass energy, along with high-level B2G interactions, further strengthened collaboration across the clean energy value chain.

Odisha reinforces its clean energy leadership

With a clear project pipeline and investor-ready policy framework, the Odisha Renewable Energy Investor Conclave 2026 marked a decisive step in translating policy intent into investment momentum, reinforcing the state’s role as Eastern India’s clean energy growth engine.