The Odisha government, on Thursday, signed agreements for a series of renewable energy projects involving a massive cumulative investment of Rs 67,000 crore.
Operating under the state Energy Department, GRIDCO signed MoUs with major entities including 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 develop 6.8 GW of renewable capacity, according to an official statement.
The agreements were inked in the presence of Deputy CM KV Singh Deo during the inauguration of the Odisha Renewable Energy Investor Conclave 2026.
As per the agreement, NHPC is set to establish a 1,000 MW pumped storage project (PSP), while BPCL has proposed a diversified portfolio including ground-mounted solar, floating solar PV, and additional pumped storage ventures, the statement read.
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.
#Odisha is powering ahead as Eastern India’s leading clean energy destination.
At the Renewable Energy Investor Conclave 2026, ₹67,000 crore investments were mobilised across 6.8 GW projects, including 5,000 MW floating solar, 18,000 MW pumped storage & 500 MWh BESS.
With… pic.twitter.com/D2OL6e7NyE
— Energy Odisha (@EnergyOdisha) February 12, 2026
Deputy CM Singh Deo emphasised that the state is dedicated to becoming a national leader in the renewable sector, noting that Odisha’s contributions are vital to India’s target of reaching 500 GW of non-fossil energy by 2030.
“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.
Additional Chief Secretary (ACS) of the Energy Department, Vishal Dev, pointed out that the government has introduced several policies featuring attractive incentives, further bolstered by NITI Aayog ranking Odisha top in fiscal management.
“Odisha has been ranked top in fiscal management by NITI Aayog in the country, further enhancing the confidence of the investors,” he said.
GRIDCO MD Satyapriya Rath said the renewable energy nodal agency (RENA) cell of the organiation is facilitating the project development, from conceptualisation to commissioning.
“We are committed to enabling transparent procurement, assured off take and timely bid processes,” he said.
