- Axis Energy will invest INR 317.5 billion to develop 5 GW of renewable energy capacity in Odisha.
- The projects will include solar, wind, hybrid systems, and battery storage, creating over 5,500 jobs.
India’s Axis Energy has announced ambitious plans to expand its renewable energy footprint. The company will invest INR 317.5 billion (approximately USD 3.5 million / EUR 3 million) in large-scale projects in Odisha. It aims to develop renewable energy assets with a total capacity of 5 GW. Through this initiative, Axis Energy seeks to strengthen Odisha’s position as a hub for sustainable power generation.
The investment will focus on a diverse mix of technologies. Axis Energy plans to develop onshore wind farms, utility-scale solar plants, agro-photovoltaic projects, and hybrid solar-wind facilities. The company will also integrate battery energy storage systems (BESS) to improve grid stability and reliability. Therefore, the portfolio will support round-the-clock power supply and address intermittency issues commonly seen with renewable energy.
Moreover, the initiative is expected to deliver significant economic and social benefits. The projects will create more than 5,500 direct and indirect jobs across Odisha. These opportunities will arise during construction, operations, and maintenance phases. Consequently, the investment will support clean energy generation while promoting skills development and local economic growth. Axis Energy will work closely with the Odisha government to ensure smooth implementation and lasting impact.
At the same time, the investment aligns with India’s national renewable energy and energy security goals. Odisha’s strong wind and solar resources, along with supportive state policies, make it an ideal location for clean energy development. Therefore, Axis Energy views the state as strategic for scaling up its renewable energy operations. This move also supports India’s transition to a low-carbon economy.
Axis Energy, based in Hyderabad, has steadily grown its renewable energy presence since 2010. The company has commissioned over 1.5 GW of renewable energy capacity across India. It is now developing a project pipeline exceeding 8 GW, reflecting its commitment to sustainable energy.
Additionally, Axis Energy partners with the global investment firm Brookfield through the joint venture platform, Evren. In 2024, Evren raised USD 100 million (EUR 85.2 million) to support up to 11 GW of solar, wind, and battery projects in Rajasthan and Andhra Pradesh. Therefore, the Odisha investment builds on strong financial support and technical expertise.
Overall, the plan highlights Axis Energy’s increasing presence in India’s renewable energy sector. It also reinforces Odisha’s potential as a key player in the country’s clean energy future.