IREDA approves Rs 14,445 cr loans for RE projects in Maharashtra

Government-owned renewable energy project finance company Indian Renewable Energy Development Agency Limited (IREDA) has approved loans worth Rs 14,445 crore and disbursed Rs 10,018 crore for various green energy projects in Maharashtra. On May 20, 2022, IREDA in association with the Mahratta Chamber of Commerce Industries and Agriculture (MCCAI), conducted a workshop on 'Greening India through renewables' in Pune, as per the IREDA statement. IREDA, CMD Pradip Kumar Das urged industry leaders and investors of Maharashtra to pay attention to the Renewable Energy (RE) sector and invest in the RE projects that are not only developing clean energy but also decreasing carbon dioxide emissions and enhancing the quality of life. Das stressed IREDA's commitment to the renewable energy projects development in all states, including Maharashtra, stating that out of a total loan of Rs 1,20,946 crore approved by IREDA, Rs 14,445 crore was approved for 422 RE project accounts in Maharashtra. The company has spent Rs 10,018 crore in Maharashtra alone out of its total loan disbursement of Rs 79,446 crore. IREDA approved a loan of Rs 2,564 crore for 12 RE project accounts and disbursed Rs 1,362 crore in Maharashtra during FY22. Das said that IREDA's historic financial results would not have been achievable without the collective efforts of all departments. He also emphasised that IREDA might be the only central public sector enterprise to post its audited financial results on 30 April 2022, just 30 days after the end of the FY. The driving factors behind such outstanding achievements are teamwork, honesty, transparency, and commitment to the stakeholders. Chintan Shah, Director (Technical), IREDA, said that India can change the landscape of the RE sector by building an ecosystem for RE manufacturing and storage manufacturing. IREDA is also funding RE manufacturing at competitive interest rates. This will increase the domestic manufacturing sector. Prashant Girbane, Director General, MCCAI, said that greening India via renewables is essential for lowering energy costs and creating job opportunities. Image Source Also read: IREDA targets Rs.27.49 bn revenue in 2021-22