IREDA strengthens commitment to renewable energy expansion in North-East

New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) has reaffirmed its commitment to accelerating renewable energy (RE) growth in India’s North-Eastern Region (NER). Addressing a regional event titled “Financing Renewable Energy in the North Eastern Region” held in Guwahati, IREDA's Chairman and Managing Director (CMD) Pradip Kumar Das highlighted the vast green energy potential of the North-East and the agency’s pivotal role in driving inclusive and sustainable development in the region.

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Das noted that India’s renewable energy capacity has tripled since FY2014 and is expected to double again by FY2030, requiring an estimated Rs 28 lakh crore in additional investments. With abundant hydropower and solar potential, the North-Eastern states are poised to play a critical role in the nation’s clean energy transition. The region has already achieved around 5 GW of renewable capacity, accounting for nearly 60 percent of its total installed power generation capacity.

IREDA has sanctioned over Rs 3,500 crore in financing for renewable projects in the region, offering concessional interest rates and special incentives, including a 50 basis points rebate for projects located in the North-East and an additional 50 basis points rebate for women-led projects. Through flagship government schemes such as PM-KUSUM and Rooftop Solar, IREDA has supported thousands of installations, including the deployment of 3,800 solar pumps in Tripura and several rooftop projects across Assam.

Emphasizing the strategic importance of the North-East, Das said, “The North-East is our green frontier. IREDA is committed to empowering the region with clean, affordable, and reliable renewable energy.” He added that with enhanced grid connectivity, targeted policy reforms, and innovative financing models, the region can emerge as a green energy hub for India and its neighbouring countries.

In a notable mention, Das highlighted that many of IREDA’s business vertical heads currently hail from the North-East, enabling the organization to better understand and address the region’s unique challenges and opportunities in renewable energy development.

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