IREDA Approves Rs 30 Billion for Odisha's Renewable Energy Projects

26 Dec 2024 CW Team

Indian Renewable Energy Development Agency (IREDA) has approved funding exceeding Rs 30 billion for renewable energy projects in Odisha as the state strives to achieve its goal of 10 GW capacity by 2030. Pradip Kumar Das, Chairman and Managing Director of IREDA, shared this update during the Odisha Solar Investor Conclave organised by GRIDCO. He emphasised that accessible financing is crucial to fostering the adoption of renewable energy.

Das outlined IREDA's significant contributions to funding renewable energy projects in Odisha, spanning sectors such as solar, hydro, ethanol, and renewable energy manufacturing. He noted that Odisha is well-positioned to emerge as a leading solar power producer and a hub for equipment manufacturing.

On a national scale, IREDA has sanctioned Rs 2.08 trillion and disbursed Rs 1.36 trillion for renewable energy initiatives. The agency has also supported innovative technologies, including ethanol production, electric vehicle fleet financing, pumped storage hydropower, and green ammonia development.

Das reaffirmed IREDA’s dedication to financing 10-15 per cent of India’s renewable energy debt as part of its mission to accelerate the country’s transition to sustainable energy.

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