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IREDA Sanctions INR 3000 Crore to Support Odisha’s 10 GW RE Target

Indian Renewable Energy Development Agency Ltd. (IREDA) has sanctioned over INR 3,000 crore for green energy projects in Odisha, supporting the state’s goal of achieving 10 GW renewable energy capacity by 2030, said CMD Pradip Kumar Das at the Odisha Solar Investor Conclave in Bhubaneswar.

December 24, 2024. By Mrinmoy Dey

Indian Renewable Energy Development Agency Ltd. (IREDA) has already sanctioned over INR 3,000 crore for green energy projects across Odisha, covering solar, hydro, ethanol and renewable energy manufacturing sectors, stated its Chairman and Managing Director Pradip Kumar Das.

While delivering a special address at the Odisha Solar Investor Conclave, organised by GRIDCO, in Bhubaneswar, Das reaffirmed IREDA’s commitment to Odisha's ambitious renewable energy target, with the state setting its visions on achieving 10 GW capacity by 2030.

He further emphasised the pivotal role of accessible financing in accelerating renewable energy (RE) projects. He highlighted IREDA’s unique position as a competitive financier with fully paperless, digitised and borrower-friendly operations, fostering seamless support for green energy projects.

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, etc.

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

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Odisha Solar Investor Conclave