IREDA Boosts Odisha’s Renewable Energy Goals With ₹3,000 Crore Investment

The Indian Renewable Energy Development Agency Limited (IREDA) has reinforced its commitment to advancing green energy in Odisha by approving significant funding for renewable energy projects. These initiatives, covering diverse sectors like solar power, hydropower, and ethanol production, align with Odisha’s ambitious renewable energy target of achieving 10 GW capacity by 2030.

Odisha’s Ambitious Renewable Energy Drive

IREDA has sanctioned over ₹3,000 crore for green energy projects in Odisha, encompassing solar energy, hydroelectricity, ethanol production, and renewable energy manufacturing. Speaking at the Odisha Solar Investor Conclave, IREDA Chairman and Managing Director Pradip Kumar Das emphasised the state’s immense potential to emerge as a leader in solar power production and a hub for solar equipment manufacturing. Odisha has set its sights on achieving 10 GW of renewable energy capacity by 2030, highlighting its commitment to sustainable energy development.

Das also noted IREDA’s efficient and borrower-friendly operations, with its fully digitised and paperless processes ensuring seamless support for green energy projects.

National Contributions and Vision for Green Energy

On a national scale, IREDA has sanctioned projects worth ₹2.08 lakh crore and disbursed ₹1.36 lakh crore to advance renewable energy technologies, including ethanol production, electric vehicle fleet financing, pumped storage hydropower, and green ammonia. Pradip Kumar Das reiterated the agency’s role as a catalyst in market formation for emerging renewable energy technologies and its commitment to contributing 10% to 15% to India’s renewable energy debt financing space.

Odisha Deputy Chief Minister K V Singh Deo highlighted the conclave’s strategic importance in attracting investments to boost employment opportunities and further enhance the state’s renewable energy landscape. The conclave was organised ahead of the Utkarsh Odisha Conclave-2025.

IREDA Share Performance

As of December 24, 2024, 12:04 PM, the shares of IREDA  are trading at ₹201.69 per share with a surge of 0.05% from its previous day’s closing price. Over the last month, the stock has seen a surge of 6.16%. While over the year the stock has surged by 97.82% the stock has a 52-week high and 52-week low of ₹310.00 per share and ₹95.55 per share respectively.

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