IREDA Keen To Promote Renewable Energy Projects In Odisha

By Shitanshu Shukla/ Updated On Mon, May 16th, 2022

Highlights :

IREDA opened a branch office in Bhubaneswar in August 2021, sanctioning afterwards five Hydro power projects totaling 80.5 MW and a 1.5 MW Energy Access project.

IREDA Crosses Highest Annual Loan & Sanction Loan Disbursement for Renewable Energy Projects

Pradip Kumar Das, Chairman & Managing Director (CMD), Indian Renewable Energy Development Agency Ltd. (IREDA) met Suresh Chandra Mahapatra, Chief Secretary, Govt of Odisha, in Bhubaneshwar on May 13 over the prospects of Renewable Energy in the state.

“IREDA is keen to promote more RE projects in Odisha, realizing the immense green energy potential in the state,” Das said. Both took stock of the projects continuing in the state and explored the opportunities for promoting the usage of Renewable Energy in the state, the sources said.

IREDA opened a branch office in Bhubaneswar in August 2021, sanctioning afterwards five Hydro power projects totaling 80.5 MW and a 1.5 MW Energy Access project. IREDA has since sanctioned loans of Rs. 670 crores and disbursed loan of Rs. 348 crores.

The Chief Secretary appreciated IREDA for taking more interest in development of Odisha and assured the State Government’s complete support for RE projects. CMD, IREDA also highlighted that besides Hydro and Access to Energy, several projects for Odisha related to Biomass and manufacturing are also under consideration. IREDA should also encourage Solar Rooftop, Solar Heating, and Solar Lighting systems for household use in Odisha, said Chief Secretary.

IREDA reported historic all-time high annual Profit After Tax (PAT) of Rs. 634 Crores and Profit Before Tax (PBT) of Rs. 834 Crores in the FY 2021-22 , registering a strong growth of 82.88% and 46.41%, respectively over FY 2020-21.