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IREDA has sanctioned Rs 23,000 crore for 404 RE projects in Andhra, Telangana

IREDA has sanctioned a loan of Rs 14,188 crores in Andhra Pradesh and Rs 8,809 crores in Telangana for Renewable Energy (RE) projects

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New Delhi: Indian Renewable Energy Development Agency Limited (IREDA), in association with the Federation of Telangana Chambers of Commerce and Industry (FTCCI), conducted a workshop on “Greening India Through Renewables” in Hyderabad on June 3.

While highlighting IREDA’s instrumental role in the growth of the renewable energy (RE) sector in Andhra Pradesh and Telangana, IREDA’s Chairman & Managing Director (CMD) Pradip Kumar Das said that out of a total loan sanctioned by the company of Rs 1,21,061 crores, Rs 14,188 crores were sanctioned for 328 RE project accounts in Andhra Pradesh and Rs 8,809 crores for 76 RE project accounts in Telangana. The company has disbursed Rs 10,849 crores in Andhra Pradesh and Rs 6,549 crores in Telangana, out of a total loan disbursement of Rs 79,994 crores in the country.

Last year, IREDA has sanctioned Rs 3,291 crores and disbursed Rs 2,410 crores in Telangana. Loan of Rs 1,491 crores sanctioned and Rs 469 crores disbursed by IREDA for RE projects in Andhra Pradesh during FY 2021-22.

Das also highlighted that the organisation’s stakeholders-centric strategy and ease of doing business have helped to achieve historical growth in the last two years. IREDA has introduced several new financial products on a regular basis to fill financial market gaps. Through financial support for the RE project, the company is also helping to address the health effects of climate change and reduce pollution levels, by reducing Co2 emissions.

Earlier, IREDA’s Director (Technical) Chintan Shah while delivering the presentation highlighted that IREDA has made RE projects bankable, sustainable, and feasible. He also added that India can achieve energy independence through green energy only.

IREDA also hosted an interactive panel discussion with IREDA CMD, Director (Technical), Ajay Mishra (IAS) (Retd.) Former Special Chief Secretary, Department of Energy, Govt. of Telangana, N Janaiah, Vice Chairman & Managing Director, TSREDCO Ltd, DV Rama Krishna, Project Director, TSREDCO Ltd., Cecil Augustine, AVP- Sales & Marketing, Adani Solor, Sekhar Nori, Managing Director, Skyshade Daylights Pvt Ltd. and Sudhir Reddy, Executive Director, Premier Solar Powertech Pvt Ltd.

Khyati Naravane, CEO, FTCCI, Anil Agarwal, Senior Vice President, FTCCI, Sushil Sancheti, Chair- Energy Committee, FTCCI also addressed the industry leaders of the state.

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