The Odisha government has approved proposals by five companies to set up solar cell and module manufacturing facilities and a pumped hydro storage project with a total investment of ₹126.51 billion (~$1.49 billion).

These project proposals were approved at the second high-level clearance authority meeting, which cleared ₹1.37 trillion (~$16.21 billion) worth of projects across various sectors, including renewable energy.

Kolkata-based Jupiter International received approval for a ₹20.05 billion (~$237.33 million) 4 GW solar cell and module manufacturing project utilizing TOPCon technology in Khurdha. The project is expected to be commissioned by the fourth quarter of the financial year (FY) 2025-26. This would be in addition to the 1.3 GW TopCon solar cell manufacturing project being executed by the company in a joint venture with Ampin Energy.

Haryana-based Saatvik Solar Industries will set up an ₹13.67 billion (~$161.81 million) 2.5GW/annum solar cell manufacturing facility, also in Khurdha. The project will manufacture N-Type TOPCon cells with an efficiency of 25.2% and modules. The project is expected to be commissioned in FY26

Saatvik will also establish another 1.5 GW/annum cell facility in FY27 and a 2 GW/ annum module manufacturing plant in FY26, with plans for expanding capacity by another 2 GW in FY27.

Delhi-based Jakson Engineers won approval for a ₹13.54 billion (~$160.27 million) 2.25 GW solar cell manufacturing unit in Khurdha. The company will manufacture TOPCon solar cells at its facility, with plans to expand capacity when it explores perovskite technology. The project is expected to be commissioned in Q1 FY27.

Gujarat-based Grew Energy will set up a ₹45.3 billion (~$536.23 million) ingot wafer, solar cell, and module manufacturing project. The project will be located in Ganjam.

A state-owned public sector undertaking, Odisha Hydro Power Corporation (OHPC) will set up a 600 MW PSP in Kalahandi at a cost of ₹33.94 billion (~$401.76 million). OHPC has planned to develop the project at the Balimela Hydro Electric Project, Upper Kolab Hydro Electric Project and Upper Indravati Hydro Electric Project.

In July, the Odisha Government approved two major renewable energy projects with a combined investment of ₹4.11 billion (~$49.1 million).

In March 2024, the Odisha government gave the green light to several green energy projects with a proposed investment of  ₹557 billion (~$6.7 billion).