IREDA keen to promote RE projects in Odisha, has sanctioned Rs 670 cr in state

New Delhi: The Indian Renewable Energy Development Agency (IREDA) said on Friday that it is keen to promote RE projects in Odisha and has already sanctioned loans worth Rs 670 crore within one year of opening its branch in the state. IREDA, a public sector non-banking financial institution (NBFC), is engaged in promoting, developing and extending financial assistance for projects related to new and renewable sources of energy.

Pradip Kumar Das, Chairman and Managing Director (CMD) of IREDA, met Odisha Chief Secretary Suresh Chandra Mahapatra on Friday, a company statement said.

During the meeting, Das said that IREDA is keen to promote more RE projects in Odisha, realising the immense green energy potential in the state.

RE projects: IREDA sanctioned Rs 670 cr to Odisha

In August 2021, the IREDA opened a branch office in Bhubaneswar, following which the company sanctioned five hydropower projects with total capacity of 80.5 MW and a 1.5-MW energy access project.

Following the opening of its branch office in Odisha, IREDA has sanctioned loans of Rs 670 crore and disbursed Rs 348 crore, said the PSU.

The state chief secretary and IREDA's CMD had a positive discussion about the numerous efforts made by IREDA in the last two years and future opportunities in Odisha, the statement said, adding that opportunities for promoting the usage of RE in the state were highlighted throughout the conversation.

'IREDA should encourage solar rooftop, heating in Odisha'

According to the statement, the Odisha Chief Secretary praised IREDA's efforts in Odisha and assured the state government's complete support for development of RE projects. "IREDA should also encourage solar rooftop, solar heating and solar lighting systems for household use in Odisha," the Chief Secretary was quoted as having said in the statement.

Das said that apart from hydro and access to energy, several projects for Odisha related to biomass and manufacturing are also under consideration.

He informed the Chief Secretary about the company's recent initiatives, achievements and future plans for RE sector's expansion in line with the Central government's target to meet 50 percent of India's total energy requirement from non-fossil fuels by 2030.

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