IREDA Sanctions Rs 3,000 Crore For Renewable Energy Projects In Odisha

(MENAFN- KNN India) New Delhi, Dec 24 (KNN) The Indian Renewable Energy Development Agency (IREDA) has sanctioned over Rs 3,000 crore for renewable energy projects in Odisha as the state intensifies efforts to achieve a 10 GW renewable energy capacity target by 2030.

Announcing this milestone at the Odisha Solar Investor Conclave organized by GRIDCO, IREDA Chairman and Managing Director Pradip Kumar Das underscored the pivotal role of accessible financing in propelling India's clean energy transition.

Odisha, known for its industrial might, is now positioning itself as a frontrunner in renewable energy. Highlighting IREDA's contribution, Das revealed that the agency has been actively funding solar, hydro, ethanol, and renewable energy manufacturing projects in the state.

This support aligns with Odisha's ambition to become a leading solar power producer and a manufacturing hub for renewable energy equipment.

Nationally, IREDA has sanctioned Rs 2.08 lakh crore and disbursed Rs 1.36 lakh crore for renewable energy initiatives, demonstrating its robust commitment to driving India's green energy agenda.

Beyond solar energy, the agency has also supported the development of cutting-edge technologies such as ethanol production, electric vehicle (EV) fleet financing, pumped storage hydropower, and green ammonia, ensuring a diversified and future-ready energy ecosystem.

Das emphasized that IREDA aims to contribute 10-15 per cent of India's renewable energy debt financing, reinforcing its role as a key player in the country's renewable energy landscape.

“With Odisha's progressive policies and our dedicated support, the state is well-positioned to achieve its ambitious renewable energy goals,” he stated.

The Odisha Solar Investor Conclave brought together stakeholders from the public and private sectors, fostering dialogue on investment opportunities in renewable energy.

GRIDCO officials highlighted the state's solar potential and invited partnerships to achieve the 10 GW capacity target.

As India races toward its goal of 500 GW renewable energy capacity by 2030, IREDA's strategic interventions in states like Odisha underline its commitment to a sustainable energy future.

(KNN Bureau)

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