IREDA CMD Highlights Odisha’s Solar Financing Role in RE Growth at Conclave

Shri Das reiterated IREDA’s support for Odisha’s ambitious renewable energy target of achieving 10 GW capacity by 2030.

Shri Pradip Kumar Das, Chairman and Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA), delivered a keynote address at the Odisha Solar Investor Conclave organized by GRIDCO in Bhubaneswar today. His speech focused on the critical role of accessible financing and the potential for Odisha to emerge as a leader in the renewable energy (RE) sector.

Shri Das reiterated IREDA’s support for Odisha’s ambitious renewable energy target of achieving 10 GW capacity by 2030. To date, IREDA has sanctioned over ₹3,000 crores for green energy projects in the state, spanning solar, hydro, ethanol, and renewable energy manufacturing. Shri Das highlighted Odisha’s strategic potential to become a hub for solar power generation and solar equipment manufacturing, leveraging its geographic and industrial advantages.

The CMD emphasized that Odisha's focused approach to renewable energy can make it a frontrunner in India’s green energy revolution. He urged investors and stakeholders to capitalize on the state’s untapped solar potential, supported by IREDA’s financing solutions tailored to boost RE projects.

IREDA’s National Impact

Shri Das showcased IREDA’s national contributions, with the agency having sanctioned over ₹2.08 lakh crores and disbursed ₹1.36 lakh crores for renewable energy projects across the country. He highlighted IREDA’s role as a catalyst in promoting emerging green energy technologies such as:

• Ethanol production
• EV fleet financing
• Pumped storage hydropower
• Green ammonia

IREDA’s financing initiatives are fully paperless, digitized, and borrower-friendly, ensuring seamless operations for project developers. Shri Das emphasized IREDA’s leadership in RE debt financing, with an envisioned 10-15% contribution to the country’s green energy debt financing needs.

Innovative Financing Models for Future Growth

During the conclave, Shri Das introduced innovative financing models designed to meet the diverse needs of RE developers, ensuring affordability and accessibility for all project scales. He also discussed IREDA’s role in fostering partnerships with state governments and private investors to expand the renewable energy market, particularly in emerging sectors such as:

• Offshore wind energy
• Hydrogen-based technologies
• Circular economy practices for renewable energy equipment

Odisha’s Potential as a Renewable Energy Hub

Shri Das called for collaborative efforts between the state government, private investors, and IREDA to position Odisha as a global leader in solar energy. He emphasized the state’s capability to attract significant investments in solar manufacturing and renewable energy technology, creating job opportunities and contributing to India’s green energy targets.

India’s Commitment to Renewable Energy

IREDA’s CMD underscored the central government’s commitment to achieving 500 GW of non-fossil fuel energy capacity by 2030. Shri Das highlighted the alignment of Odisha’s goals with the nation’s ambitious renewable energy roadmap, showcasing how states like Odisha play a pivotal role in realizing India’s clean energy future.

Encouraging Investors

Shri Das concluded by urging investors to take advantage of IREDA’s financing solutions and Odisha’s proactive policy environment. “Odisha has the potential to lead the solar revolution in India. Together, with accessible financing and innovative technologies, we can drive India’s green energy mission and make a global impact,” he stated.

The Odisha Solar Investor Conclave witnessed the participation of key stakeholders, including policymakers, industry leaders, and renewable energy experts, who shared insights into harnessing Odisha’s solar potential and accelerating India’s transition to a sustainable energy future.