India’s Axis Energy to invest in 5 GW of renewables in Odisha
- Özcan Berk Atakan
- 2 days ago
- 2 min read
India’s clean energy transition continues to accelerate as Axis Energy announced plans to invest in 5 GW of renewable energy capacity in the eastern Indian state of Odisha. The large-scale programme reflects both growing investor confidence in India’s power market and the country’s strategic push toward diversified, grid-ready renewable generation.
Axis Energy’s planned investments will span a broad mix of technologies, including solar PV, onshore wind, hybrid wind-solar projects, agri-photovoltaic (agri-PV) systems, and battery energy storage systems (BESS). This diversified approach is designed to reduce intermittency risk, improve capacity utilisation, and support grid stability as renewable penetration increases.
The inclusion of storage is particularly notable. By pairing generation assets with BESS, the projects are expected to deliver more predictable and dispatchable power—an increasingly important requirement as India integrates larger volumes of variable renewable energy.
The total investment is estimated at approximately INR 31,750 crore (around USD 3.8 billion). Beyond clean power generation, the programme is expected to create over 5,500 direct and indirect jobs across development, construction, and operations, delivering a significant boost to Odisha’s regional economy.
Odisha has been positioning itself as an emerging renewable energy hub, supported by favourable land availability, improving transmission infrastructure, and state-level policy support. Axis Energy’s announcement strengthens that trajectory.
Headquartered in Hyderabad, Axis Energy has already commissioned more than 1.5 GW of renewable capacity across India and maintains a development pipeline exceeding 8 GW. The Odisha investment forms a central pillar of the company’s medium-term expansion strategy, reinforcing its focus on integrated renewable platforms rather than standalone assets.
India has set a national target of 500 GW of non-fossil fuel capacity by 2030. Achieving this goal will depend heavily on private-sector investment, hybridisation of assets, and the deployment of storage technologies. Projects such as Axis Energy’s Odisha programme illustrate how developers are adapting their portfolios to meet both policy expectations and evolving grid requirements.
As India’s renewable market matures, large-scale, multi-technology investments like this are likely to become the norm—shifting the sector from pure capacity growth toward system-level reliability and long-term asset value.
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