Mumbai: 29th January 2025 : Shri Pradip Kumar Das, Chairman and Managing Director, Indian Renewable Energy Development Agency (IREDA), addressed a pivotal session on “Sustainable Growth of Renewable Energy & Equipment Manufacturing” at Utkarsh Odisha 2025 in Bhubaneswar today.
Shri Das highlighted that India’s renewable energy expansion requires interventions across generation, manufacturing, financing, and workforce skilling to achieve its 500 GW target by 2030. With an estimated ₹30-32 lakh crore investment needed, policies to attract global funds, expand green bonds, and empower NBFCs like IREDA are essential.
He emphasized that stated that with the right mix of infrastructure, investment, and policy support, Odisha can establish itself as a leader in India’s renewable energy landscape. Odisha currently has an installed RE capacity of 2.94 GW, with a target of 10 GW by 2030.
He highlighted the state’s geographical advantage, strong industrial base, and policy support as key drivers for attracting large-scale investments in solar, wind, hydro, and green hydrogen initiatives.
IREDA’s financial interventions in Odisha have been significant, with a loan book exceeding ₹1,540 crore for Odisha-based projects as of Q3 FY25. With cumulative loan sanction of ₹4,315 crore for renewable projects, with 77% of these sanctions issued since FY20 and cumulative disbursements exceeding ₹2,146 crore, IREDA is committed to financing Odisha’s renewable energy transition by bridging financing gaps, promoting green investments, and ensuring the rapid deployment of clean energy projects.
Shri Kanak Vardhan Singh Deo, Deputy Chief Minister of Odisha in his address assured policy reforms and necessary support to position Odisha as a leader in the green energy transition. Shri Vishal Kumar Dev, Principal Secretary (Energy), Odisha also graced the session.
The session concluded with key takeaways, including an expected ₹3.3 lakh crore investment by RE developers in Odisha’s renewable energy sector and major announcements on manufacturing projects and green ammonia production facilities with a capacity of approximately 7 MMTPA.
