Welspun New Energy, the green energy infrastructure arm of Welspun World, has signed a Memorandum of Understanding (MoU) worth Rs 13,500 crore with the Odisha government.
The agreement was finalized during the Make in Odisha Conclave 2025, marking a significant step toward expanding the state’s renewable energy sector.
Key Projects to Boost Renewable Energy Capacity
As part of this MoU, Welspun New Energy will invest in two major projects in Odisha:
- A 1,200 MW pumped hydro project
- A 1,000 MW floating solar power project
These initiatives aim to enhance Odisha’s energy storage capacity and facilitate the seamless integration of renewable energy into the power grid.
Strategic Importance for India’s Renewable Energy Goals
The investment aligns with India’s ambitious target of achieving 500 GW of renewable energy capacity by 2030.
The agreement strengthens Odisha’s position as a key player in India’s green energy transition, supporting the nation’s broader climate goals.
Odisha’s Vision for a Green Energy Hub
The MoU also complements Odisha’s industrial transformation plans under its ‘Viksit Odisha 2036’ initiative. The state aims to become a leading hub for green energy, driving sustainable industrial growth.
Welspun New Energy’s Long-Term Goals
Welspun New Energy is focused on scaling up its renewable energy capacity.
By 2030, the company aims to establish:
- 5 GW of renewable energy capacity
- 2 million tons per annum (MTPA) of green derivatives, including ammonia and methanol
Commitment to Global Climate Goals
At COP26 in 2021, India pledged an ambitious five-part ‘Panchamrit’ commitment, which includes:
- Achieving 500 GW of non-fossil electricity capacity
- Generating 50% of total energy from renewables
- Reducing carbon emissions by 1 billion tonnes by 2030
- Cutting the emissions intensity of GDP by 45%
- Attaining net-zero emissions by 2070
Global Momentum for Green Energy
Green energy is no longer just an Indian priority but a global movement.
As reported by msn.com, as countries ramp up their renewable energy initiatives, investments like Welspun New Energy’s in Odisha highlight the critical role of private sector participation in climate mitigation efforts.
