IREDA Allocates ₹3,000 Crore for Renewable Energy Initiatives in Odisha
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Bhubaneshwar, Dec 23 (NationPress) The Indian Renewable Energy Development Agency Limited (IREDA) has approved funding exceeding ₹3,000 crore for various renewable energy projects throughout Odisha, which include sectors such as solar, hydro, ethanol, and renewable energy manufacturing, as stated by IREDA's chairman and managing director Pradip Kumar Das on Monday.
While speaking at the Odisha Solar Investor Conclave, Das reiterated IREDA’s dedication to the state's ambitious renewable energy objectives, with Odisha aiming to reach a remarkable 10 GW capacity by 2030.
He also highlighted the potential of Odisha to become a prominent solar power producer and a center for solar equipment manufacturing. In sharing IREDA’s contributions on a national scale, he mentioned that the agency has sanctioned more than ₹2.08 lakh crore and disbursed ₹1.36 lakh crore for renewable energy projects, establishing itself as a key player in fostering market development for emerging renewable energy technologies like ethanol, EV fleet financing, pumped storage hydropower, and green ammonia.
Das stressed the essential role of accessible financing in propelling renewable energy (RE) projects forward. He noted that IREDA possesses a distinctive position as a competitive financier with fully digitized, paperless, and borrower-friendly operations, enabling smooth support for green energy initiatives.
He reaffirmed IREDA’s determination to support India’s green energy ambitions, envisioning a 10-15 percent contribution to the renewable energy debt financing sector.
In parallel, India has achieved nearly 15 GW of renewable energy capacity addition from April to November in the current fiscal year, which is almost double the 7.54 GW added during the same timeframe last year, as reported by Union Minister Pralhad Joshi last week.
While addressing the CII International Energy Conference and Exhibition (IECE) here, the Minister for Renewable Energy further mentioned that the total installed capacity in the non-fossil fuel energy sector has now reached 214 GW, reflecting an increase of over 14 percent compared to the previous year.
Moreover, he pointed out that 2.3 GW of new capacity was added in November 2024 alone, which marks a fourfold 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.
