Odisha Needs 26.23 GW of Capacity To Meet Rising Power Demand By 2034: EY–ASSOCHAM

Odisha is emerging as a key clean-energy destination, the EY–ASSOCHAM report “Odisha Energy Transition – Chariots of Change” has said. The report says the state’s natural resources, port infrastructure and rising industrial demand place it in a strong position to support India’s 2030 clean-energy targets and long-term net-zero plans.

According to the study, Odisha’s solar, wind and hydro potential, combined with its port network and plans for energy storage and green hydrogen, could help the state draw significant investment and build a green manufacturing base in eastern India.

Ideal For Green Industrialisation

Somesh Kumar, Partner and Leader, Power & Utilities at EY India, said Odisha has “a strong foundation for green industrialisation,” citing its ports at Paradeep, Dhamra and Gopalpur, its renewable potential and state incentives for clean infrastructure. He said Odisha’s 34 GW pumped-storage potential can support around-the-clock renewable power and strengthen the grid.

Pankaj Lochan Mohanty, Chairman of the Odisha State Development Council at ASSOCHAM, said Odisha sits “at the intersection of industrial scale, renewable abundance and a world-class port ecosystem.” He said the state is well placed to become a green-energy and low-carbon manufacturing hub for eastern India.

Key findings

Hydrogen and ammonia exports

– Odisha’s ports offer a cost advantage for exports to Japan, Korea and the EU.
– Several global companies are exploring hydrogen and ammonia projects in the eastern coastal corridor.

Energy demand

– Odisha’s peak electricity demand is projected to reach 10,564 MW in FY 2033–34.
– The state will need 26,237 MW of new contracted capacity by 2033–34.

Recommendations

The report calls for:

– A State Energy Planning and Transformation Unit to coordinate renewable energy, pumped-storage, hydrogen, ports, transmission and land-pooling plans.
– Standardised PPP templates for pumped-storage projects, energy parks and hydrogen hubs.
– A blended state climate-finance vehicle to back early-stage PSP, RE-hybrid and hydrogen projects.
– Joint curricula for RE O&M, pumped-storage operations, electrolysis, hydrogen safety and battery assembly, along with a Just Transition Fund for reskilling coal-sector workers.

The report says stronger coordination between industry and government is essential for scaling renewable capacity, advancing hydrogen hubs, speeding storage projects and improving energy efficiency in industrial regions such as Angul, Jharsuguda and Rourkela.

It concludes that Odisha’s policy clarity, industrial commitment and natural advantage can help set a national benchmark for integrated and resilient clean-energy development, supporting India’s 2070 net-zero goal.

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