Bhubaneswar: Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned over ₹3,000 crore to support green energy initiatives in Odisha, marking a significant step towards the state’s renewable energy ambitions. Pradip Kumar Das, Chairman and Managing Director of IREDA, announced this during his special address at the Odisha Solar Investor Conclave, organized by GRIDCO in Bhubaneswar today.
Das emphasized the critical role of accessible financing in accelerating renewable energy (RE) projects, highlighting IREDA’s unique position as a competitive financier. The agency’s fully paperless and borrower-friendly operations are designed to provide seamless support for green energy endeavors.
Odisha has set an ambitious target of achieving 10 GW renewable energy capacity by 2030. Reflecting IREDA’s commitment to this vision, the sanctioned funds will bolster solar, hydro, ethanol, and renewable energy manufacturing sectors across the state.
“Odisha holds immense potential to become a leading solar power producer and a hub for solar equipment manufacturing,” Shri Das remarked. He further underscored IREDA’s national contributions, having sanctioned over ₹2.08 lakh crore and disbursed ₹1.36 lakh crore towards renewable energy projects.
IREDA is also playing a catalytic role in emerging RE technologies, including ethanol, electric vehicle fleet financing, pumped storage hydropower, and green ammonia. Shri Das reiterated the agency’s vision to contribute 10-15% of the renewable energy debt financing space, aligning with India’s broader green energy goals.