IREDA to promote RE projects in Odisha- sanctioned Rs 670 cr


The Indian Renewable Energy Development Agency (IREDA) stated 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.

According to the reports, Pradip Kumar Das, Chairman and Managing Director (CMD) of IREDA, met Odisha Chief Secretary Suresh Chandra Mahapatra. 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.

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.

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.”

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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