Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

Axis Energy Ventures India and Evren Ink Rs47,750 Crore Pact with GRIDCO for 5 GW Clean Energy Portfolio

Axis Energy Ventures India, in collaboration with Evren, has signed a Memorandum of Understanding (MoU) with GRIDCO, acting on behalf of the Government of Odisha, to develop up to 5,000 MW (5 GW) of renewable energy capacity along with green hydrogen production facilities in the state.

The proposed programme entails an estimated investment of Rs 47,750 crore over the coming decade. According to the companies, the initiative is expected to create nearly 15,000 direct and indirect jobs, further strengthening Odisha’s emergence as a key renewable energy hub in eastern India.

The partnership will focus on scalable renewable power generation, storage integration, and grid reliability, while also advancing industrial decarbonisation efforts. The development aligns with the Odisha Renewable Energy Policy 2022 and supports India’s broader sustainability and energy transition objectives.

Through this collaboration, the partners aim to ensure dependable low-carbon power supply and accelerate the deployment of next-generation solutions, including green hydrogen, to cater to future industrial and infrastructure demand.