Rapid energy releases (RERs) in the solar corona extend over many orders of magnitude, the largest (flares) releasing an energy of 10 25 J or more. Other events, with a typical energy that is a billion times less, are called nanoflares. A basic difference between flares and nanoflares is that flares need a larger magnetic field and thus occur only in active regions, while nanoflares can appear everywhere. The origin of such RERs is usually attributed to magnetic reconnection that takes place at altitudes just above the transition region. Here we show that nanoflares and smaller similar RERs can be explained within the drift wave theory as a natural stage in the kinetic growth of the drift wave. In this scenario, a growing mode with a sufficiently large amplitude leads to stochastic heating that can provide an energy release of over 10 16 J.PACS numbers: 96.60.P-; 96.60.qe; 52.35.Kt