Bhubaneswar: Odisha mobilised ₹67,000 crore in renewable energy investments against 6.8 GW of proposed capacity through investor commitments and five key MoUs signed at the third edition of the Odisha Renewable Energy Investor Conclave 2026 held in Bhubaneswar.
Five MoUs were signed between GRIDCO, on behalf of the Energy Department, and various investors and knowledge partners. These include agreements with NHPC for development of 1,000 MW of pumped storage projects, NEEPCO for 800 MW of pumped storage capacity, BPCL for ground-mounted solar, floating solar PV and pumped storage projects, and a combined 5,000 MW portfolio across wind, agro-voltaic, solar power, hybrid projects with battery storage, and green hydrogen and its derivatives by and Axis Energy Ventures India Pvt. Ltd. Another MoU was signed with Vasudha for collaboration on floating solar PV and agri-PV projects as a knowledge partner.
Organised by the Energy Department, Government of Odisha, in association with GRIDCO Limited, the two-day conclave brought together policymakers, investors, developers, financial institutions, technology providers and industry leaders to accelerate renewable energy investments in the state. The International Forum for Environment, Sustainability and Technology (iFOREST) served as the knowledge partner.
The conclave was inaugurated by Deputy Chief Minister Kanak Vardhan Singh Deo, who also launched the state’s first wind resource assessment initiative and a City Accelerator Programme for six cities of Odisha. Addressing the inaugural session, Singh Deo said Odisha is committed to emerging as a frontrunner in India’s renewable energy transition. Referring to India’s ambitious target of achieving 500 GW of non-fossil fuel energy capacity by 2030, he said Odisha is contributing meaningfully to that national goal. He highlighted that the state’s long coastline provides a distinct advantage for wind energy development alongside solar and small hydro projects, and added that robust policies and a favourable approval process have made Odisha an attractive investment destination.
Additional Chief Secretary of the Energy Department Vishal Kumar Dev emphasised that the state’s renewable energy strategy is focused not only on capacity addition but also on system integration. He said the advancement of pumped storage and battery systems alongside renewable generation will ensure grid stability and long-term energy security. He further stated that renewable energy scale-up in Odisha is anchored in a strong policy framework supported by dedicated institutions at both the state and district levels, and noted that this year’s conclave successfully mobilised ₹67,000 crore in investments linked to 6.8 GW capacity through commitments and agreements signed during the event.
Akash Tripathi, Managing Director of SECI, said that adopting renewable energy is not just a climate imperative but also an economic one. He pointed out that Odisha has significant potential in floating solar and wind energy and can emerge as a major storage hub through pumped storage projects. Echoing similar sentiments, Dr. Chandra Bhushan, CEO and President of iFOREST, said Eastern India holds immense untapped renewable potential and that Odisha’s proactive push in floating solar, pumped storage and battery storage solutions could play a critical role in India’s next phase of renewable energy expansion.
During the conclave, the state presented a diversified renewable energy project pipeline spanning generation and storage technologies. This included more than 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 highlighted as part of Odisha’s clean energy roadmap.
Dr. Satyapriya Rath, Managing Director of GRIDCO Limited, said that through the Renewable Energy Nodal Agency (RENA) Cell, GRIDCO is facilitating projects from conceptualisation to commissioning, ensuring transparent procurement, assured offtake and timely bid processes. OPTCL Chairman-cum-Managing Director Bhaskar Jyoti Sarma was also present at the conclave, which witnessed strong participation from private sector developers and investors.
The event also featured technology-focused sessions on small hydropower, battery storage and biomass energy, along with high-level Business-to-Government interactions that encouraged collaboration among developers, OEMs, financiers, utilities and industrial offtakers. With a clearly defined project pipeline and an investor-ready policy framework, Odisha signalled its preparedness to scale up clean energy deployment rapidly, reinforcing its position as a key driver of renewable growth in Eastern India.
