Odisha Inks Rs 67,000 Crore Green Energy Pact With ACME, Japan's IHI

Bhubaneswar: Odisha on Friday secured one of its largest clean energy investments after signing a Memorandum of Cooperation (MoC) with ACME Group and Japan's IHI Corporation to develop large-scale green energy projects involving an estimated investment of nearly Rs 67,000 crore.

The agreement, announced by Chief Minister Mohan Charan Majhi, envisages the development of three integrated green energy projects at Paradip and Gopalpur, reinforcing Odisha's ambition to emerge as a major hub for renewable energy and green industrial manufacturing.

The projects are expected to significantly expand the state's clean energy infrastructure while strengthening its position as a preferred investment destination for green hydrogen, green ammonia and other emerging low-carbon industries. The collaboration is also expected to contribute to India's net-zero transition by creating large-scale production capacities for green fuels and associated industrial ecosystems.

Officials said the investment is likely to generate more than 8,000 direct and indirect employment opportunities across engineering, construction, manufacturing, operations, logistics and ancillary industries, providing a substantial boost to local economic activity and skill development.

Calling the agreement a landmark milestone for Odisha's industrial transformation, Chief Minister Mohan Charan Majhi said the partnership reflects growing global investor confidence in the state's policy framework, industrial infrastructure and strategic coastal location.

“The collaboration with ACME Group and Japan's IHI Corporation marks a significant step in Odisha's journey towards becoming a leading destination for green energy investments. It will accelerate the state's transition to clean energy while opening new opportunities for industrial growth, employment generation and sustainable development,” the Chief Minister said.

The projects are expected to leverage Odisha's deep-water ports, abundant renewable energy potential and expanding industrial ecosystem to facilitate the production and export of green fuels to domestic and international markets, particularly energy-importing countries in Asia.

The latest agreement adds to a series of high-value industrial investments secured by the state government as it seeks to position Odisha at the forefront of India's emerging green economy. Industry observers believe the partnership could catalyse further investments in renewable energy, green hydrogen, port-based manufacturing and export-oriented industries over the coming years.