THEBUSINESSBYTES BUREAU

BHUBANESWAR, FEBRUARY 12, 2026

“Odisha shows the commitment to be the front runner in the renewable energy sector of our country. India has a bold 500 GW non-fossil energy target by 2030 and Odisha is contributing meaningfully to it,” said Deputy Chief Minister Kanak Vardhan Singh Deo while inaugurating the Odisha Renewable Energy Investor Conclave 2026, as the state mobilised investment commitments worth ₹67,000 crore covering nearly 6.8 GW of clean energy capacity.

The two-day conclave, organised by the Energy Department of the Odisha Government, in partnership with GRIDCO Limited, marked the third edition of the state’s flagship renewable investment platform. The event brought together policymakers, investors, project developers, financial institutions, technology providers and industry leaders to accelerate large-scale renewable energy deployment in the state. The International Forum for Environment, Sustainability and Technology (iFOREST) served as the Knowledge Partner.

Highlighting Odisha’s natural and policy advantages, Singh Deo said the state’s long coastline offers a distinct edge in wind energy development, complemented by strong potential in solar and small hydro. “On the regulatory front, we offer robust policies and a favourable approval process. This two-day RE Investor Conclave will not only support Odisha’s renewable growth but will also be important for the country,” he said. During the inaugural session, the Deputy Chief Minister also launched Odisha’s first wind resource assessment initiative and unveiled a City Accelerator Programme for six cities, aimed at integrating clean energy solutions into urban development.

Providing an overview of the state’s strategy, Vishal Kumar Dev, Additional Chief Secretary, Energy Department, emphasised that Odisha’s focus extends beyond capacity addition to systemic transformation. “Our objective is not merely capacity addition but system integration. By advancing pumped storage and battery systems alongside renewables, we are ensuring grid stability and long-term energy security,” he said. He added that the renewable scale-up is anchored in a comprehensive policy stack supported by dedicated institutions at both state and district levels, with a clear emphasis on industry-led growth. “At this year’s RE Investor Conclave, we have mobilised ₹67,000 crore in investments corresponding to 6.8 GW capacities through investor commitments and MoUs,” he noted.

The conclave showcased a robust and diversified renewable energy pipeline across generation and storage technologies. This included 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. The state also highlighted emerging opportunities in wind energy, distributed renewables, small hydro, agrivoltaics, biomass, and waste-to-energy projects.

Akash Tripathi, Managing Director, SECI, underscored the economic rationale of clean energy adoption, stating that renewable expansion is not only a climate imperative but also an economic one. He observed that Odisha’s significant floating solar and wind potential, combined with large-scale pumped storage capacity, positions the state to emerge as a major renewable energy and storage hub.

Dr. Chandra Bhushan, CEO & President, iFOREST, emphasised that Eastern India holds immense untapped renewable potential and that Odisha’s proactive push in floating solar, pumped storage and battery storage solutions would serve as a critical pillar in India’s next phase of renewable energy expansion.

Dr. Satyapriya Rath, Managing Director, GRIDCO Limited, highlighted the role of the Renewable Energy Nodal Agency (RENA) Cell in facilitating projects from conceptualisation to commissioning. “We are committed to enabling transparent procurement, assured offtake, and timely bid processes,” he said.

A total of five MoUs were signed between GRIDCO (on behalf of the Energy Department, Government of Odisha) and key investors and knowledge partners. NHPC signed an agreement for development of 1,000 MW of Pumped Storage Projects. BPCL committed to ground-mounted solar, floating solar PV and pumped storage projects. NEEPCO signed for development of 800 MW of PSP capacity. ABC Cleantech Pvt. Ltd. and Axis Energy Ventures India Pvt. Ltd. partnered for 5,000 MW across wind, agro-voltaic, solar power, wind hybrid/solar with BESS, and green hydrogen and its derivatives. Vasudha joined as a knowledge partner for floating solar PV and Agri-PV projects.

The conclave witnessed strong private sector participation, with developers and investors expressing keen interest in Odisha’s clean energy pipeline. It also hosted technology-specific sessions on small hydropower, battery storage and biomass energy, alongside high-level Business-to-Government (B2G) interactions that fostered collaboration among developers, OEMs, financiers, utilities and industrial off-takers.

With a clearly defined project pipeline, investor-ready policies and institutional support mechanisms, Odisha demonstrated its preparedness to scale clean energy deployment at speed and scale. The Odisha Renewable Energy Investor Conclave 2026 thus marked a decisive step in translating policy intent into investment momentum, reinforcing the state’s emergence as Eastern India’s leading clean energy investment and growth engine.