IHC and Adani Group Commit $25bn to 14 Odisha Projects
IHC and Adani Group have signed a pact with the Odisha state government to invest $25bn across 14 projects, both The National News and UA.NEWS reported on 10 September 2026. No further breakdown of the 14 projects by sector, value, location within the state, or timeline has been made available from the retrieved headlines.
The deal places Odisha among the larger destinations for capital commitment involving the Adani Group, though the sub-sectoral split of the $25bn across the 14 projects is not confirmed in available reporting.
| Detail | As Reported |
|---|---|
| Parties | IHC, Adani Group, Odisha State Government |
| Total investment value | $25bn (both outlets in agreement) |
| Number of projects | 14 |
| Location | Odisha, India |
| Reported date | 10 September 2026 |
| Sub-sector referenced | Captive Power (among others; full list not available) |
Odisha's Position in India's Captive Power Pipeline
Captive power is an active sub-sector in Odisha. Projects India tracks 144 captive power projects in Odisha, placing the state sixth nationally by project count in this sub-sector. Maharashtra leads with 405 tracked projects, followed by Karnataka (301), Chhattisgarh (299), Uttar Pradesh (200) and Andhra Pradesh (152).
One recently tracked captive power project in Odisha illustrates the existing activity: a captive power plant at Kansarigurha, Rayagada, promoted by Aditya Birla Group, valued at Rs 8,000 crore and currently at the Under Approvals stage.
Stage Breakdown: Where India's Captive Power Projects Stand
Across the 2,430 captive power projects Projects India tracks nationally, the pipeline is heavily weighted towards early-stage activity. The stage breakdown is as follows:
- Under Approvals: 1,042 projects
- Completed: 490 projects
- Hold: 282 projects
- Construction Started: 277 projects
- Approvals Received: 155 projects
- Cancelled: 82 projects
Twenty-eight captive power projects were added to the tracked pipeline in the last 90 days, indicating a steady flow of new proposals entering the market. Recent additions span states including Rajasthan, Karnataka, Punjab, Haryana, West Bengal and Madhya Pradesh.
Recent Captive Power Projects Entering the Pipeline
Among recently tracked projects, the Captive Power Plant Project at Beawar, Rajasthan, promoted by Star Cement North East Limited, is valued at Rs 3,650 crore and is Under Approvals. The Captive Power Plant Project at Gokulpur, Paschim Medinipur, West Bengal, promoted by Rashmi Metallurgical Industry Private Limited, is valued at Rs 30,000 crore and has entered the Construction Started stage. At Paschim Barddhaman, West Bengal, The Shyam Sel and Power Limited is promoting a captive power plant valued at Rs 1,661 crore, also at Construction Started stage.
These projects, alongside the Odisha-focused IHC-Adani agreement, reflect the breadth of captive power investment under consideration across Indian states. For the full Power Projects sector overview, including all sub-sectors, see the Projects India sector page.
What this means for suppliers and contractors
The IHC-Adani pact with Odisha signals a large, multi-project programme in a state where captive power already has a 144-project tracked pipeline. Suppliers and equipment makers active in captive power generation should note that Odisha sits within a broader eastern India cluster alongside West Bengal, where several high-value projects have recently moved to construction.
Nationally, the 1,042 captive power projects currently Under Approvals represent the largest single pool of near-future procurement opportunity in the sub-sector. Contractors seeking early positioning should monitor this approval-stage cohort closely, as movement from Under Approvals to Approvals Received and then Construction Started typically triggers civil, mechanical and electrical tender activity.
With no open India tenders in Power Projects recorded at the time of publication, the pipeline is pre-tender in character, making early project identification particularly valuable. Suppliers can browse all tracked projects to identify opportunities by state, stage and promoter.
Frequently asked questions
How much are IHC and Adani Group investing in Odisha?
IHC and Adani Group have signed a pact with the Odisha state government to invest $25bn across 14 projects, as reported by The National News and UA.NEWS on 10 September 2026. No further breakdown by project or sector was available from the published headlines.
How many captive power projects are tracked in Odisha?
Projects India currently tracks 144 captive power projects in Odisha, placing the state sixth nationally in this sub-sector. Maharashtra leads with 405 tracked projects, followed by Karnataka, Chhattisgarh, Uttar Pradesh and Andhra Pradesh.
What is the current stage of captive power projects in India?
Of 2,430 captive power projects tracked nationally, 1,042 are Under Approvals, 490 are Completed, 282 are on Hold, 277 have Construction Started, 155 have Approvals Received, and 82 have been Cancelled.
