Bhubaneswar, Nov 5 (UDN): Odisha has signed 18 Memorandums of Understanding (MoUs) involving investments worth approximately ₹1.17 lakh crore at the India Renewable Energy Conference and Exhibition (IREC) 2026, marking a significant step towards strengthening the state’s renewable energy infrastructure and attracting large-scale investments in the power generation and energy storage sectors.
On the second day of the India Renewable Energy Conference and Exhibition 2026, held at Bharat Mandapam in New Delhi, the MoUs were signed in the presence of Odisha Chief Minister Mohan Charan Majhi and Deputy Chief Minister Kanak Vardhan Singh Deo. The agreements are expected to give a major boost to Odisha’s renewable energy ambitions and establish the state as an emerging destination for clean energy investments.
During the conference, Odisha presented a strong and diversified project pipeline focusing on electricity generation, renewable energy expansion and advanced energy storage technologies. The proposed initiatives include floating solar photovoltaic (PV) projects with a combined capacity of more than 5,000 megawatts (MW), pumped storage projects with a capacity of 18,000 MW across 36 identified locations, and a 500 megawatt-hour (MWh) Battery Energy Storage System (BESS) supported through Viability Gap Funding (VGF).
These projects are expected to play an important role in enhancing the state’s renewable energy generation capacity, improving grid stability and ensuring reliable electricity supply. The proposed battery storage infrastructure will also help address the challenges associated with the intermittent nature of solar and other renewable energy sources.
A strategic roadmap extending up to 2050 was also presented and discussed during the conference, aligning with the broader vision of building a Developed India by 2047. The long-term framework emphasises sustainable energy development, investment mobilisation, technological advancement and the expansion of clean energy infrastructure.
The India Renewable Energy Conference and Exhibition 2026 has witnessed participation from representatives of more than 130 countries. The gathering includes over 40 ministers, senior policymakers, investors, financial institutions and leading industry representatives from across the world.
Australia, Denmark, the European Union, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom are participating as partner countries, highlighting the conference’s international significance and growing global cooperation in the renewable energy sector.
Odisha’s signing of 18 MoUs worth ₹1.17 lakh crore is being viewed as a major milestone in the state’s efforts to attract investment, expand renewable energy infrastructure and contribute to India’s long-term clean energy transition.
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