Ireda sanctions over Rs 3,000 crore for green energy projects in Odisha

CMD Das reaffirmed Ireda's commitment to Odisha's ambitious renewable energy target, with the state setting its vision on achieving 10 GW (gigawatt) capacity by 2030

The Indian Renewable Energy Development Agency Limited has sanctioned over Rs 3,000 crore for green energy projects across Odisha, covering solar, hydro, ethanol and renewable energy manufacturing sectors, a top Ireda official said here on Monday.

Chairman and Managing Director of Ireda, Pradip Kumar Das said this while addressing the Odisha Solar Investor Conclave, organised by GRIDCO and iFOREST (International Forum for Environment Sustainability and Technology) here.

Das reaffirmed its commitment to Odisha's ambitious renewable energy target, with the state setting its vision on achieving 10 GW (gigawatt) capacity by 2030.

He highlighted Ireda's unique position as a competitive financier with fully paperless, digitized and borrower-friendly operations, fostering seamless support for green energy projects.

Das said Odisha has the potential to emerge as a leading solar power producer and a hub for solar equipment manufacturing.

Sharing Ireda's national contributions, he noted that the company has sanctioned over 2.08 lakh crore and disbursed 1.36 lakh crore towards renewable energy projects, positioning itself as a catalyst for market formation in emerging RE technologies such as ethanol, EV fleet financing, pumped storage hydropower and green ammonia.

Das reiterated Ireda's commitment to driving India's green energy goals, with an envisioned 10-15 per cent contribution to the renewable energy debt financing space.

Odisha Deputy Chief Minister K V Singh Deo said the conclave has been organised prior to the Utkarsh Odisha Conclave-2025 to attract investors in the RE sector so that employment for more number of people can be generated in the state.

"The government of Odisha is committed to renewable energy. Our Prime Minister has shown the way forward for 2070. Solar is a key driver for the state's growth and Odisha has everything possible going for it. Our investment climate is conducive, we have a robust system in place and we have the willpower to harness it," he said.

Principal Secretary of Energy Department, Vishal Kumar Dev said, "Odisha is on the cusp of a transformative energy transition. The demand for clean and affordable energy has never been more important to address the global challenge of climate change. This conclave is a testament to our commitment to clean energy."  Solar power currently accounts for 21 per cent of Odisha's total 2,938 MW (mega watt) renewable energy capacity, including hydro. This includes 508 MW of ground-mounted, 58 MW of rooftop, and 42 MW of off-grid solar capacity, officials said.

Top Odisha districts for solar potential include Sundargarh (15.23 GW), Angul (14.06 GW), Balangir (11.62 GW), Jharsuguda (11.45 GW), and Dhenkanal (9.70 GW).

"We have found that a modest potential of 200GW is available in the state currently. A large chunk will come from floating solar, rooftop solar and PM Kusum. A lot of incentives have been given by the state to promote renewable energy," said Gridco managing director Trilochan Panda.

President of iFOREST, Chandra Bhushan said, "A green environment is only possible if we build a green economy. And clean energy is its biggest driver. There is demand, potential to supply and favourable conditions for the sector to grow. Five years from now, the potential of renewable energy will expand".