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IREDA has sanctioned loans of Rs 14,445 cr for 422 RE projects in Maharashtra

IREDA has sanctioned loans of Rs 14,445 crore and disbursed Rs 10,018 crore for Renewable Energy (RE) projects in Maharashtra

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  • IREDA CMD Pradip Kumar Das urged Maharashtra’s industry leaders and investors to pay attention to the RE sector
  • The company has disbursed Rs 10,018 crore in Maharashtra out of a total loan disbursement of Rs 79,446 crore, said the CMD

New Delhi: State-run Indian Renewable Energy Development Agency (IREDA) has sanctioned loans of Rs 14,445 crore and disbursed Rs 10,018 crore for Renewable Energy (RE) projects in Maharashtra, IREDA said in a statement on Saturday. IREDA, in association with the Mahratta Chamber of Commerce Industries and Agriculture (MCCAI), conducted a workshop on ‘Greening India Through Renewables’ on May 20 in Pune, Maharashtra.

In his keynote address, IREDA CMD Pradip Kumar Das urged Maharashtra’s industry leaders and investors to pay attention to the RE sector and invest in RE projects, which are not only generating clean energy but also reducing CO2 emissions and improving the quality of life. Prime Minister Narendra Modi has set an ambitious target of putting in place 500 GW of non-fossil energy capacity by 2030, and Maharashtra can contribute significantly to this goal by utilising its green energy potential, said the CMD.

IREDA has sanctioned loans for 422 RE projects in Maharashtra

Das emphasised on IREDA’s commitment to the development of renewable RE projects in all states, including Maharashtra, noting that out of the total loans of Rs 1,20,946 crore sanctioned by IREDA, Rs 14,445 crore were sanctioned for 422 RE project accounts in Maharashtra. “The company has disbursed Rs 10,018 crore in Maharashtra out of a total loan disbursement of Rs 79,446 crore. In Maharashtra, IREDA has sanctioned loans of Rs 2,564 crore for 12 RE project accounts and disbursed Rs 1,362 crore during FY 2021-22,” said the CMD.

The IREDA CMD praised the company’s exceptional financial achievements during the last two years despite the COVID-19 epidemic, stating that the company’s historic financial results would not have been possible without the collective efforts of all departments. He also underlined that IREDA might be the only PSU to publish its audited financial results on April 30, 2022, only just 30 days after March ended. The driving elements behind such outstanding accomplishments are teamwork, honesty, transparency, and commitment to the stakeholders.

The theme presentation was delivered by Chintan Shah, Director (Technical) of IREDA. He said that India can transform the landscape of RE sector by creating an ecosystem for RE manufacturing and storage manufacturing. Apart from other RE sectors, IREDA is also financing RE manufacturing at competitive interest rates. This will boost the domestic manufacturing sector.

Prashant Girbane, Director General, MCCAI, in his welcome address, said that greening India through renewables is very important for energy cost reduction as well as the creation of job opportunities.

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