IREDA lines up Rs 3000 crore for green energy projects in Odisha

IREDA lines up Rs 3,000 crore for green energy projects in Odisha

23 Dec, 2024 3:55 PM

Bhubaneshwar, Dec 23 (IANS) Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned over Rs 3,000 crore for green energy projects across Odisha, covering solar, hydro, ethanol and renewable energy manufacturing sectors, IREDA chairman and managing director Pradip Kumar Das said on Monday.

Addressing the Odisha Solar Investor Conclave, Das reaffirmed IREDA’s commitment to the state's ambitious renewable energy target, with the state setting its vision on achieving 10 GW capacity by 2030.

Das also spotlighted Odisha's potential to emerge as a leading solar power producer and a hub for solar equipment manufacturing. Sharing IREDA’s national contributions, he noted that the company has sanctioned over 2.08 lakh crore and disbursed 1.36 lakh crore towards renewable energy projects, positioning itself as a catalyst for market formation in emerging RE technologies such as ethanol, EV fleet financing, pumped storage hydropower and green ammonia.

He emphasized the pivotal role of accessible financing in accelerating renewable energy (RE) projects. IREDA has a unique position as a competitive financier with fully paperless, digitized and borrower-friendly operations, fostering seamless support for green energy projects, he added.

Das reiterated IREDA’s commitment to driving India’s green energy goals, with an envisioned 10-15 per cent contribution to the renewable energy debt financing space.

Meanwhile, India has added nearly 15 GW of renewable energy capacity during April-November in the current financial year, which is almost double the 7.54 GW added during the same period last year, Union Minister Pralhad Joshi said last week.

Addressing the CII International Energy Conference and Exhibition (IECE) here, the Minister for Renewable Energy further stated that India’s total installed capacity in the non-fossil fuel energy sector has reached 214 GW, marking an increase of over 14 per cent compared to the same period last year.

Additionally, he pointed out that 2.3 GW of new capacity was added in November 2024 alone, reflecting a four-fold increase from the 566 MW added in November 2023.

Joshi reiterated the government’s commitment to achieving 500 GW of non-fossil fuel-based capacity by 2030.

Courtesy Media Group: IANS

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