Bhubaneswar, February 12 The Odisha government signed agreements on Thursday for the establishment of renewable energy projects with a total investment of Rs 67,000 crore.
GRIDCO, under the state Energy Department, signed agreements with National Hydroelectric Power Corp (NHPC), Bharat Petroleum Corp Ltd (BPCL), North Eastern Electric Power Corp Ltd (NEEPCO), and ABC Cleantech Pvt Ltd & Axis Energy Ventures India Pvt Ltd to develop 6.8 GW of renewable energy, according to a statement.
The MoUs were signed in the presence of Deputy CM KV Singh Deo during the inauguration of the Odisha Renewable Energy Investor Conclave 2026.
NHPC will set up a 1,000 MW pumped storage project (PSP), while BPCL proposed to set up ground-mounted solar, floating solar PV, and pumped storage projects, the statement said.
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.
Singh Deo said the state is committed to being a leader in the renewable energy sector in the country.
"India has a target of 500 GW of non-fossil energy by 2030, and Odisha is making a significant contribution. Odisha's coastline gives the state a distinct advantage to develop wind energy, along with solar and small hydro," he said.
"We also have significant storage potential. On the regulatory front, we offer robust policies and a favorable approval process. This two-day conclave will not only support Odisha's renewable growth, but will also be important for the country," he added.
Energy Department's Additional Chief Secretary (ACS) Vishal Dev said the state government has launched several policies offering impressive incentives for renewable energy projects.
"Odisha has been ranked as the top state in fiscal management by NITI Aayog, further enhancing the confidence of investors," he said.
GRIDCO MD Satyapriya Rath said the renewable energy nodal agency (RENA) cell of the organization is facilitating project development, from conceptualization to commissioning.
"We are committed to ensuring transparent procurement, assured off-take, and timely bid processes," he said.
