HIF Global India Eyes $1 Billion Investment in Odisha’s Renewable Energy Sector

Bhubaneswar: Odisha’s investment momentum continues post the Utkarsh Odisha Conclave, with HIF Global India, a multinational company from Chile, expressing its interest in investing $1 billion in the state’s renewable energy sector. The company presented its proposal on e-fuel production before Deputy Chief Minister and Minister of Agriculture, Farmers’ Empowerment, and Energy, Kanak Vardhan Singh Deo, at the Lok Seva Bhavan Conference Hall on Monday.

As global demand for biofuels rises, e-fuel has emerged as a key player in ensuring environmental sustainability and reducing carbon emissions. HIF Global India, which specializes in methanol synthesis and operates in countries like the United States, Chile, Uruguay, and Australia, has proposed to establish a methanol synthesis plant in Odisha.

The company has requested 50 acres of land, along with necessary provisions for water and electricity supply, to set up its operations. In return, HIF Global India has assured compliance with all government regulations and investment norms.

Welcoming the proposal, Deputy Chief Minister Kanak Vardhan Singh Deo highlighted Odisha’s investor-friendly policies.“Odisha is now 100% investment-friendly. We are ready to provide all necessary support in line with government regulations. Our single-window clearance system ensures a smooth investment process. We invite HIF Global India to take advantage of these facilities,” he said.

The project, once operational, is expected to generate over 250 direct jobs and an additional 500 indirect employment opportunities during its functional phase. The plant aims to produce 3,50,000 tons of e-methanol annually, leading to a 95% reduction in carbon emissions—a significant step toward a greener future.

The discussion was attended by Principal Secretary of the Energy Department, Vishal Dev, IPICOL Managing Director, Bhupendra Singh Poonia, and senior representatives from Tata Power and the Power Department.