Remarkable Success in the Field of Wind Energy Brings Substantial ₹4,940 Crore Investment Proposal to this State

The rapid success in generating clean energy is not only expected to provide relief from pollution but also reduce the country’s dependence on crude oil. The Indian government is making consistent efforts in the direction of generating clean energy, and it is now achieving success at a fast pace. Significant investment proposals are coming in the sectors of solar and wind energy. The Odisha government has recently received investment proposals worth INR 4,940 crores for wind energy projects. This information was provided by a senior official who stated that on Friday, Gridco, the nodal agency for the public sector and renewable energy development, organized the “Odisha Wind Energy Summit – Investors’ Conclave” in collaboration with the Indian Wind Energy Association (IWEA) to explore investment opportunities in the wind energy sector. At this event, potential investors assured an investment proposal of INR 4,940 crores from various investors for a wind energy capacity of 575 megawatts.

Participation of 25 leading investors from across the country. The summit witnessed the participation of 25 leading investors from across the country. This event acted as an important platform to bring together major players in the wind energy production and manufacturing sector. Chief Secretary PK Jena emphasized the state’s strong commitment to providing extensive support to the wind industry for setting up power plants and manufacturing centers in Odisha. Finance and Energy Secretary VK Dev also expressed confidence that the Wind Energy Summit will undoubtedly work as a significant step in Odisha’s ambitious journey towards fulfilling the potentials, visions, and missions in the wind energy sector.

PTC India also made a significant bid. Recently, Oil and Natural Gas Corporation (ONGC) won a bid to acquire the fully-owned subsidiary of PTC India Limited in the wind energy unit, PTC Energy Limited (PEL), at a bid of INR 925 crores. According to the statement, with the perspective of expanding its business in the renewable energy sector, the company had participated in the bidding process for the acquisition of PTC India Limited’s fully-owned subsidiary PTC Energy Limited (PEL) in the renewable energy solution. The PTC board approved the bid of ONGC at an equity value of INR 925 crores last week for a 100 percent equity shareholding in PEL. Meanwhile, the renewable energy solutions provider Suzlon Group secured an order for a 201.6 MW wind energy project from O2 Power, Tech Green Power Eleven. Under the order, Suzlon will supply wind turbines (equipment) and complete the construction and commissioning of the project, and also provide operation and maintenance services after starting the project. The project is expected to be operational in the year 2025.