Axis Energy Ventures India Pvt. Ltd., in partnership with Evren, has signed a memorandum of understanding (MoU) with GRIDCO Limited on behalf of the Energy Department of the Odisha government to develop up to 5,000 MW of renewable energy capacity along with green hydrogen production facilities.
The proposed investment of approximately ₹47,750 crore will be deployed over the next decade. The project is expected to generate nearly 15,000 direct and indirect employment opportunities, reinforcing Odisha’s position as a clean energy hub in eastern India.
According to officials, the initiative will focus on large-scale renewable power generation, integration of energy storage solutions, strengthening grid stability, and supporting industrial decarbonisation. The development aligns with the Odisha Renewable Energy Policy 2022 and supports India’s broader long-term sustainability and energy transition goals.
The collaboration marks a significant step toward expanding the state’s renewable energy infrastructure and accelerating green hydrogen adoption.
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