Indian Renewable Energy Development Agency (IREDA) has sanctioned over Rs 3,000 crore for green energy projects in Odisha, spanning solar, hydro, ethanol, and renewable energy manufacturing sectors.
Odisha aims to achieve a renewable energy capacity of 10 GW by 2030, with significant potential to become a leading solar power producer and a hub for solar equipment manufacturing.
Nationally, IREDA has sanctioned over Rs 2.08 lakh crore and disbursed Rs 1.36 lakh crore for renewable energy projects, positioning itself as a key player in emerging technologies like ethanol, EV fleet financing, pumped storage hydropower, and green ammonia.
IREDA emphasizes accessible and borrower-friendly financing through its digitized operations to accelerate green energy adoption. It envisions contributing 10-15 percent to the renewable energy debt financing space while fostering India’s green energy goals.
India added nearly 15 GW of renewable energy capacity during April-November of the current financial year, almost doubling the 7.54 GW added in the same period last year. In November 2024 alone, 2.3 GW of capacity was added, a four-fold increase compared to 566 MW in November 2023.
The country’s total installed capacity in the non-fossil fuel energy sector has reached 214 GW, a 14 percent year-on-year increase. The government remains committed to achieving 500 GW of non-fossil fuel-based capacity by 2030.