Bhubaneswar, Feb 12 (NationPress) Odisha has successfully attracted investment commitments totaling Rs 67,000 crore, which encompasses nearly 6.8 GW of renewable capacity, during the third iteration of the Odisha Renewable Energy Investor Conclave 2026, officially launched on Thursday, according to officials.

The two-day event was inaugurated by Deputy Chief Minister Kanak Vardhan Singh Deo, who also oversees the Energy Department.

Organized by the Odisha Energy Department in collaboration with GRIDCO Limited, the conclave gathered policymakers, investors, developers, financial institutions, technology providers, and industry leaders to accelerate investments in renewable energy throughout the state.

The International Forum for Environment, Sustainability and Technology (iFOREST) acted as the knowledge partner for the event.

As stated in an official release, the mobilization of about Rs 67,000 crore was complemented by the launch of the state’s inaugural wind resource assessment and the initiation of a city accelerator program for six cities in Odisha by Deputy CM Singh Deo.

In his inaugural address, Deputy Chief Minister Singh Deo remarked, "Odisha is committed to being a leader in the renewable energy sector within our nation. India has set an ambitious target of 500 GW of non-fossil energy by 2030, and Odisha is poised to make a significant contribution. The state’s coastline provides a unique advantage for developing wind energy, in addition to solar and small hydro options. Our regulatory framework offers strong policies and a streamlined approval process."

He further stated that the two-day Renewable Energy Investor Conclave is set to not only enhance Odisha’s renewable energy landscape but also play a crucial role in the national clean energy transition.

During the conclave, Odisha showcased a comprehensive and varied project pipeline across various generation and storage technologies.

This included over 5,000 MW of Floating Solar Photovoltaic projects; 18,000 MW of Pumped Storage Projects across 36 identified sites; and 500 MWh of Battery Energy Storage Systems (BESS), supported by Viability Gap Funding.

Additionally, emerging prospects in wind energy, distributed renewables, small hydro, agrivoltaics, and waste-to-energy were emphasized.

On this occasion, five MoUs were executed between GRIDCO (representing the Energy Department) and various investors and knowledge partners.

The state government entered into a MoU with NHPC Limited, a leading Indian public sector enterprise, for the development of 1,000 MW of Pumped Storage Projects.

Another MoU was signed with two private companies for the development of 5,000 MW across wind, agro-voltaic, solar power, wind hybrid/solar with BESS, and Green Hydrogen and its derivatives.

GRIDCO also signed MoUs with Bharat Petroleum Corporation Limited and North Eastern Electric Power Corporation Limited for the establishment of 1,000 MW and 800 MW Pumped Storage Projects in the state, respectively.