Odisha: IREDA Has Sanctioned Over Rs.3,000 Cr For Green Energy Projects

Pradip Kumar Das, Chairman and Managing Director (CMD), Indian Renewable Energy Development Agency Limited (IREDA) reaffirmed its commitment to Odisha’s ambitious renewable energy target. The CMD emphasized the state’s vision of achieving 10 GW capacity by 2030. Highlighting its support, the Indian Renewable Energy Development Agency Limited (IREDA) has already sanctioned over Rs. 3,000 crores for green energy projects across Odisha, covering solar, hydro, ethanol, and renewable energy manufacturing sectors. IREDA CMD said in a special address at the Odisha Solar Investor Conclave, organized by GRIDCO, in Bhubaneswar .

At the conclave, Das emphasized the pivotal role of accessible financing in accelerating renewable energy (RE) projects. He highlighted IREDA’s unique position as a competitive financier with fully paperless, digitized, and borrower-friendly operations, fostering seamless support for green energy projects.

Das also spotlighted Odisha’s potential to emerge as a leading solar power producer and a hub for solar equipment manufacturing. Sharing IREDA’s national contributions, he noted that the company has sanctioned over 2.08 lakh crore and disbursed 1.36 lakh crore towards renewable energy projects, positioning itself as a catalyst for market formation in emerging RE technologies such as ethanol, EV fleet financing, pumped storage hydropower and green ammonia, etc. CMD reiterated IREDA’s commitment to driving India’s green energy goals, with an envisioned 10- 15% contribution to the renewable energy debt financing space.

Solar Cell Manufacturing: Gujarat To Take The Lead, Odisha New Entrant

India is on the cusp of a major transformation in solar cell production, and Gujarat is set to take the lead in solar cell manufacturing. With the country’s solar manufacturing sector rapidly expanding, the majority of announced and existing solar cell plants are concentrated in Gujarat, though emerging states like Odisha and Tamil Nadu are increasingly becoming key players.

Odisha: A Rising Competitor in Solar Cell Manufacturing

While Gujarat maintains its lead, Odisha is quickly emerging as a major competitor. The state is set to host five new solar cell manufacturing plants, including an integrated facility by Waaree Energies that will also produce wafers and ingots. Other companies such as Saatvik Solar, Jupiter International, and MPIN Energy Transition are also planning to invest in Odisha, attracted by the state’s pro-solar policies and coastal proximity. Icon Solar En is exploring locations in both Odisha and Chhattisgarh to expand their solar cell manufacturing footprint.