Rs 67,000 Crore Investment Mobilised as Odisha Hosts Renewable Energy Investor Conclave 2026

Bhubaneswar: Odisha reinforced its position as a frontrunner in India’s clean energy transition with the successful hosting of the third edition of the Odisha Renewable Energy Investor Conclave 2026 in Bhubaneswar, mobilising investment commitments worth nearly Rs 67,000 crore for renewable energy projects with a total capacity of 6.8 GW. 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 in the State.

The conclave was inaugurated by Deputy Chief Minister Kanak Vardhan Singh Deo, who also launched the State’s first wind resource assessment and the City Accelerator Programme for six cities of Odisha, marking key milestones in the State’s clean energy roadmap. The International Forum for Environment, Sustainability and Technology (iFOREST) served as the Knowledge Partner.

Addressing the inaugural session, the Deputy Chief Minister said Odisha is committed to becoming a national leader in renewable energy. Highlighting India’s ambitious target of achieving 500 GW of non-fossil fuel capacity by 2030, he said Odisha is contributing significantly to this goal through focused policy support and investment facilitation. He noted that the State’s long coastline offers a strategic advantage for wind energy development, complemented by strong potential in solar and small hydro sectors. He added that a robust regulatory framework and streamlined approvals are helping create a conducive environment for renewable energy investments.

Additional Chief Secretary, Energy Department, Vishal Kumar Dev, stated that Odisha’s approach goes beyond capacity addition and focuses on system integration to ensure grid stability and long-term energy security. He said the State is advancing pumped storage and battery storage systems alongside renewable generation to build a resilient power ecosystem. Through the Conclave, Odisha successfully mobilised Rs 67,000 crore in investments, reflecting strong investor confidence in the State’s policy framework and project pipeline.

Highlighting the national perspective, Akash Tripathi, Managing Director, SECI, said adopting renewable energy is both a climate necessity and an economic opportunity. He observed that Odisha has immense potential in floating solar and wind energy, and can emerge as a major storage hub through pumped storage projects.

Dr. Chandra Bhushan, CEO & President, iFOREST, emphasised that Eastern India holds vast untapped renewable energy potential, and Odisha’s proactive push in floating solar, pumped storage and battery storage can play a pivotal role in the next phase of India’s clean energy expansion.

During the Conclave, Odisha showcased a diversified renewable energy project pipeline, including over 5,000 MW of Floating Solar Photovoltaic (FSPV) projects, 18,000 MW of Pumped Storage Projects (PSP) across 36 identified sites, and 500 MWh of Battery Energy Storage Systems (BESS) supported by viability gap funding. Opportunities in wind energy, small hydro, agrivoltaics, distributed renewables and waste-to-energy were also highlighted.

Managing Director, GRIDCO Limited, Dr. Satyapriya Rath, said the Renewable Energy Nodal Agency (RENA) Cell is facilitating project development from conceptualisation to commissioning, ensuring transparent procurement, assured power offtake and timely bid processes.

A total of five Memoranda of Understanding (MoUs) were signed during the Conclave between GRIDCO and leading investors and knowledge partners, including NHPC, BPCL, NEEPCO, ABC Cleantech Pvt. Ltd. & Axis Energy Ventures India Pvt. Ltd., and Vasudha, covering pumped storage, solar, wind, hybrid energy, green hydrogen, and floating solar projects.

The event also witnessed active participation from the private sector, along with technology-focused sessions on small hydropower, battery storage and biomass energy, and high-level Business-to-Government interactions. Bhaskar Jyoti Sarma, Chairman-cum-Managing Director, OPTCL, and other senior officials were present.

With strong policy support, a ready project pipeline and rising investor interest, the Odisha Renewable Energy Investor Conclave 2026 marked a significant step in accelerating clean energy deployment, reinforcing Odisha’s role as Eastern India’s emerging clean energy growth engine.