Axis Energy Ventures India Pvt. Ltd., part of Axis Energy Group, has signed Memorandum of Understanding with GRIDCO Limited. GRIDCO acted on behalf of the Energy Department, Government of Odisha. The agreement is executed in partnership with Evren. The MoU covers development of up to 5 GW of renewable energy projects across Odisha. It also includes integration of green hydrogen production facilities. The initiative involves proposed investment of approximately INR 47,750 crore (~ $5.26 billion) over the next decade. It includes renewable capacity expansion, storage integration, grid stability measures and industrial decarbonisation components. The program is expected to generate nearly 15,000 direct and indirect employment opportunities.