IREDA sanctions Rs 14,000 cr for RE projects in Maharashtra

Renewable energy projects finance company and government owned – Indian Renewable Energy Development Agency Limited (IREDA) – has announced that it has sanctioned loans of Rs 14,445 crore and has already disbursed more than Rs 10,000 crore in Maharashtra for renewable energy projects.

IREDA and Mahratta Chamber of Commerce Industries and Agriculture (MCCAI) conducted a workshop on ‘Greening India Through Renewables’ in Pune, Maharashtra where Pradip Kumar Das, CMD of IREDA,  urged Maharashtra’s industry leaders and investors to pay attention to Renewable Energy sector and invest in the RE projects, which are not only generating clean energy but also reducing Co2 emissions and improving quality of life.

Das emphasised IREDA’s commitment to the development of renewable RE projects in all states, including Maharashtra. He stated that out of a total loan sanctioned by IREDA of Rs. 1,20,946 crores, Rs. 14,445 crores were sanctioned for 422 RE project accounts in Maharashtra. The company has disbursed Rs. 10,018 crores in Maharashtra out of a total loan disbursement of Rs. 79,446 crores. In Maharashtra, IREDA sanctioned loan of Rs. 2,564 crores for 12 RE project accounts and disbursed Rs. 1362 crores during FY 2021-22

The CMD also praised the IREDA’s financial achievements during the last two years despite the COVID-19 epidemic, stating that the company’s historic financial results would not have been possible without the collective efforts of all departments.

Chintan Shah, Director (Technical), IREDA, said that India can transform the landscape of RE sector by creating an ecosystem for RE manufacturing and storage manufacturing. Apart from other RE sectors, IREDA is also financing RE manufacturing at competitive interest rates. This will boost the domestic manufacturing sector.

Prashant Girbane, Director General, MCCAI, said that greening India through renewables is very important for energy cost reduction as well as the creation of job opportunities.