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The Odisha Solar Investor Conclave, organized by GRIDCO, marked a major milestone in the state's renewable energy journey. The Indian Renewable Energy Development Agency Limited (IREDA) announced the sanction of over Rs. 3,000 crore for green energy projects, underscoring its commitment to Odisha’s ambitious renewable energy goals. This pivotal announcement was made by IREDA Chairman and Managing Director Pradip Kumar Das on December 23, 2024, in Bhubaneswar.

During his address, Das emphasized the critical role of accessible and seamless financing in accelerating the transition to renewable energy. He highlighted IREDA’s unique position as a fully digital, borrower-friendly institution, designed to efficiently support green energy ventures. He also reiterated IREDA’s strong backing for Odisha’s target of achieving 10 GW of renewable energy capacity by 2030.

Odisha’s Green Energy Transformation

Das expressed confidence that Odisha has the potential to emerge as a leading hub for solar energy production and solar equipment manufacturing. He reaffirmed IREDA's commitment to driving the state’s green energy agenda forward. To date, IREDA has sanctioned over Rs. 3,000 crore for renewable energy projects in Odisha, spanning sectors such as solar, hydro, ethanol, and energy manufacturing.

On the national front, IREDA has been a major enabler of India’s renewable energy transition. With over Rs. 2.08 lakh crore sanctioned and Rs. 1.36 lakh crore disbursed for renewable energy projects, IREDA continues to play a pivotal role in financing emerging green technologies like ethanol, electric vehicle fleets, pumped storage hydropower, and green ammonia.

Image Source: Odisha Solar Investor Conclave