Axis Energy plans Rs 31,750 crore renewable investment in Odisha

Axis Energy (Axis Energy) has proposed an investment of Rs 31,750 crore in Odisha to develop large scale renewable energy projects across multiple clean energy segments.  

The proposed investment covers around 5,000 MW of renewable energy capacity. The portfolio includes wind, solar, agri photovoltaics (Agri PV), hybrid power projects, and battery energy storage systems (BESS). Once implemented, the projects are expected to expand Odisha’s clean energy infrastructure and support the development of future ready renewable capacity in the state.

Axis Energy has stated that the proposed projects could generate more than 5,500 direct and indirect employment opportunities. The company has also indicated plans to work closely with the Government of Odisha to support project execution and advance the state’s sustainable growth objectives. The investment aligns with national efforts to scale up renewable capacity, enhance energy security, and support long term decarbonisation goals.

As of November 2025, Odisha’s total installed power capacity stood at 9,117.87 MW, with thermal power accounting for 5,972.47 MW. Renewable capacity was 3,120.72 MW, largely driven by large hydro projects with a capacity of 2,154.55 MW, while solar capacity stood at 761.32 MW. Despite an estimated renewable energy potential of 41.3 GW, Odisha has installed only about 2.8 GW of renewable capacity, translating to an overall utilisation rate of 6.8%. Large hydro shows a utilisation rate of 76%, while solar and biomass utilisation remain low at 1.9% and 2.9% respectively. The state has more than 12 GW of wind potential but currently has no operational wind capacity. The proposed investment is positioned to address this gap and is aligned with the Resource Adequacy Plan for Odisha prepared by the Central Electricity Authority (CEA). 

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