The Odisha government aims to meet 33% of its power needs from renewable energy sources by 2036 and 50% by 2047, according to Odisha Vision 2036 and 2047 report released recently.

Odisha has attracted over ₹5 trillion (~$58 billion) in investments across the manufacturing sector, with 14% of the investment going towards green energy equipment and 8% towards electric vehicles and component manufacturing.

The state has outlined several renewable energy goals in the report.

Renewable Energy Goals

To address the rising clean energy demand, Odisha plans to add 21,000 MW of generation capacity by 2047, with over 70% to 75% of this capacity coming from renewable energy sources, including solar, wind, round-the-clock renewables, and advanced storage solutions.

The state’s current installed renewable energy capacity is 10% of the total installed capacity. Odisha aims to generate 55% of the state’s total energy from renewable sources.

To achieve this goal, the state plans to mobilize between ₹1.8 trillion (~$21 billion) and ₹2 trillion (~$23 billion) through tailored incentives and policies. It will organize energy-themed roadshows focusing on new technologies such as floating solar, small modular reactors for nuclear power, and energy storage.

Odisha aims to establish a ‘State Green Energy Transition Fund’ to provide initial investments for the energy transition. It also plans to establish a task force to expedite the development of 7 GW of pumped storage projects.

The state aims to be among the top five energy-exporting states by 2047, supplying power to southern and eastern India. It targets achieving at least 33% green power consumption in industrial sectors, while maintaining competitive tariffs to attract investment.

The vision document says Odisha will work towards enabling green industries through 3–5 MMTPA green hydrogen production capacity. These industries will include green steel and aluminum production.

The state government said the new investment opportunities will help it generate 75,000 new jobs in renewable energy.

According to the report, Odisha is also planning to achieve a near 80% electric vehicle and alternative fuel vehicles sales penetration in road transport by 2047. The sales penetration is currently at approximately 7%.

The state government said that Odisha’s 11% share of the nation’s water resources underpins a vast 36 GW potential for pumped storage projects, with 1.7 GW already under development.

The state plans to tap into its floating solar energy potential, estimated at between 17 GW and 18 GW, supported by its extensive surface water resources. It targets enabling 50% of end-use electricity consumption in agriculture and urban households to be powered by solar energy by 2036.

Last year, the Odisha Government approved two major projects in the renewable energy sector, with a combined investment of ₹4.11 billion (~$49.1 million). These projects were approved at the 130th meeting of the State Level Single Window Clearance Authority.