Bharat Renewable Energy Summit & Expo 2026: Odisha signs 18 MoUs to receive Rs 1.17 Lakh Crore investment in clean energy

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New Delhi/Bhubaneswar: Odisha signed 18 Memorandums of Understanding (MoUs), securing investment proposals worth approximately Rs 1,17,557 crore at the Bharat Renewable Energy Summit & Expo 2026 held at Bharat Mandapam in New Delhi.

Through these projects, an electricity generation capacity of about 11,742 megawatts (MW) will be added to the state’s renewable energy sector. Welcoming such a significant investment in the clean energy sector, Chief Minister Mohan Charan Majhi remarked that today  marks a ‘watershed moment’ for Odisha in the realm of clean energy. He stated that Odisha will play a pivotal role in realizing the vision set forth by the Prime Minister to achieve self-reliance in the clean energy sector.

This investment will primarily be directed towards pumped storage, solar and wind energy, hybrid renewable energy, battery storage, green hydrogen, green data centers, and other emerging technologies.

These MoUs were signed following the joint inauguration of the ‘Odisha Pavilion’ and the ‘Netherlands Pavilion’ by the Odisha CM and Deputy Chief Minister Kanak Vardhan Singh Deo.

Subsequently, a state-level session titled “Investment Opportunities in the Renewable Energy Sector in Odisha” was held. Along with the Chief Minister and the Deputy Chief Minister, this session was attended by the Union Minister for New and Renewable Energy Pralhad Joshi; the Secretary of the Union Ministry of New and Renewable Energy, Santosh Kumar Sarangi; and the Additional Chief Secretary of the Energy Department of Odisha, Vishal Kumar Dev, among others.

Addressing the session, the Union Minister stated that Odisha plays a highly significant role in India’s clean energy transition. The state’s abundant natural resources, robust industrial base, and advanced port infrastructure create excellent opportunities for investors.

The Union Minister also highlighted the potential in sectors such as renewable energy, energy storage, floating solar, wind energy, green hydrogen, and green ammonia, while also noting the policy incentives provided by the Central Government to accelerate development in these areas. He emphasized the need for collaborative efforts among the Central Government, State Governments, and industrial organizations to achieve the nation’s green energy goals.

On the other Odisha CM presented a long-term roadmap to transform Odisha into a leading clean energy hub in the country and to position it among India’s top five electricity-exporting states. Stating that “Odisha is ready for investment and welcomes capital infusion in the clean energy sector,” he mentioned that the state aims to derive 74 percent of its total installed power capacity from non-fossil fuel sources by 2047. Furthermore, he added that at least 33 percent of the electricity requirements of the industrial sector would be met through green energy at an affordable cost.

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Presenting a detailed overview of Odisha’s vision for clean energy to the investors, the Chief Minister stated that the state has set targets to generate 7,000 MW of floating solar power by 2036, and 26,000 MW of pumped storage along with 1,000 MW of wind power by 2047. He emphasized that, consequently, there are vast opportunities for investment in Odisha.

Inviting investors to establish clean energy projects in the state, Majhi reiterated the three key commitments of the State Government: stable and clear policies, time-bound approvals through a single-window system, and the strengthening of transmission infrastructure ahead of power generation. On this occasion, he provided information regarding the allocation of Rs 15,948 crore, sanctioned under the ‘Mukhyamantri Shakti Bikash Yojana’ for the expansion of the state’s power transmission network.

He stated that Odisha’s favorable industrial environment and potential for renewable energy—complemented by the ports of Paradip, Dhamra, and Gopalpur—would open new horizons for the production and export of clean energy, including green hydrogen.

Highlighting the recent achievements in the state’s power sector, Deputy Chief Minister noted that during the last summer season, the state successfully met a peak electricity demand of 6,242 MW without any power cuts. The state is making strides in the sectors of pumped storage, floating solar, and wind energy, alongside the establishment of green hydrogen and ammonia hubs at Gopalpur and Paradip.

Secretary in the Union Ministry of New and Renewable Energy, stated that under the ‘Odisha Renewable Energy Policy-2022’, a target has been set to generate 10.96 gigawatts of renewable energy by 2030. As of September 30, 2026, a total of 3,641.23 megawatts of renewable energy capacity has already been established in the state.

Additional Chief Secretary of the Energy Department of Odisha, presented the state’s policy framework, the mechanism for project approvals, and a detailed roadmap for energy storage projects. The active participation of leading domestic and international companies—such as NLC India, Adani Ports and SEZ, Avaada Group, Greenko Group, Acme Group, Evren, and Brookfield Renewables—in this conference demonstrates global interest in Odisha’s clean energy sector.

These 18 MoUs represent a significant milestone in advancing investment opportunities within Odisha’s renewable energy sector. By participating in this conference as a partner state, Odisha has not only fostered a robust green energy ecosystem but has also reaffirmed its commitment to the nation’s energy transition mission.

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