Odisha signs 18 MoUs to secure Rs 1.17 lakh crore investment
The state aims to add 11,742 MW of renewable energy capacity through various clean energy projects.
Odisha signed 18 Memorandums of Understanding (MoUs) to secure investment proposals worth approximately Rs 1,17,557 crore at the Bharat Renewable Energy Summit & Expo 2026 in New Delhi, according to Kalinga TV.
The agreements will add about 11,742 megawatts (MW) of electricity generation capacity to the state's renewable energy sector. These projects will focus on wind, solar, pumped storage, battery storage, green hydrogen, and green data centres.
Chief Minister Mohan Charan Majhi said the investment marks a watershed moment for the state. He stated that Odisha aims to source 74 per cent of its total installed power from non-fossil fuel sources by 2047.
Majhi also shared targets to produce 7,000 MW of floating solar power by 2036, and 26,000 MW of pumped storage alongside 1,000 MW of wind power by 2047. He noted that the state intends to meet at least 33 per cent of industrial electricity needs through affordable green energy.
Union Minister for New and Renewable Energy Pralhad Joshi attended the session and said Odisha's natural resources and port infrastructure offer excellent opportunities for investors. He highlighted the importance of collaboration between the Central Government, State Governments, and industry.
Deputy Chief Minister Kanak Vardhan Singh Deo noted that the state met a peak electricity demand of 6,242 MW during the last summer without power cuts. The state is also establishing green hydrogen and ammonia hubs at Paradip and Gopalpur.