Odisha Emerges as India’s Next Renewable Energy Hub with Floating Solar and Pumped Storage Push

Odisha is making bold strides toward becoming one of India’s most dynamic renewable energy destinations. The state’s latest Investor Dialogue, held in New Delhi, showcased its ambitions to attract massive investments in floating solar and pumped storage projects—two technologies that are redefining the global clean energy landscape.The event brought together top policymakers, financial institutions, and energy executives from across the country. Representatives from leading organizations such as the National Solar Energy Federation of India (NSEFI), the Global Green Growth Institute (GGGI), the World Bank, the National Institute of Solar Energy (NISE), NHPC Limited, and Odisha’s own GRIDCO participated in the dialogue. Their discussions centered around policy reforms, financing models, and technological innovations that can accelerate Odisha’s renewable transformation.Dr. Satyapriya Rath, IAS and Managing Director of GRIDCO, outlined the state's strategic roadmap for transitioning from a conventional power-based economy to a renewable-led model. He emphasized that Odisha’s goal is to emerge as a “Renewable Energy Hub of India” by building a strong foundation of fiscal stability, long-term planning, and investor-ready project sites. Enhanced policy clarity, improved investor facilitation, and robust infrastructure are becoming the cornerstones of Odisha's clean energy vision.Experts at the event also highlighted Odisha’s unique advantage—abundant water reservoirs and topographical diversity that make it ideal for large-scale floating solar and pumped storage installations. Floating solar projects, in particular, offer a sustainable way to generate clean power without consuming valuable land, while pumped storage systems provide the critical energy balancing needed to support renewable grids.NSEFI CEO Shri Subrahmanyam Pulipaka praised the state’s proactive approach, noting that Odisha is positioning itself as a key player in India’s renewable policy ecosystem. Alongside solar and hydro innovations, Odisha is also opening doors for solar manufacturing, open access renewable procurement, and green hydrogen developments.With participation from development institutions like the World Bank, financiers and technology providers engaged in meaningful discussions about operational challenges, financing structures, and regulatory expectations. The collaborative spirit at the dialogue reflected growing investor confidence in Odisha’s policy framework and long-term energy strategy.As India races toward its 500 GW renewable energy target by 2030, states like Odisha are taking center stage in implementing integrated clean energy and storage solutions. The convergence of government support, financial innovation, and cutting-edge technology signals a transformative moment not only for Odisha but also for India’s broader clean energy journey.Odisha’s ambition goes beyond projects—it represents a new model of green growth that combines sustainability, inclusivity, and innovation. With clear policy direction and growing institutional strength, Odisha is well on its way to becoming a true powerhouse in India’s renewable energy revolution.