Bhubaneswar: The Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned over Rs. 3,000 crores for green energy projects across Odisha, covering solar, hydro, ethanol and renewable energy manufacturing sectors.
This was informed by Pradip Kumar Das, Chairman and Managing Director, IREDA here while delivering a special address at the Odisha Solar Investor Conclave, organized by GRIDCO and iFOREST (International Forum for Environment Sustainability and Technology) here today.
CMD Shri Das reaffirmed its commitment to Odisha’s ambitious renewable energy target, with the state setting its visions on achieving 10 GW capacity by 2030.
Highlighting its support, IREDA has already sanctioned over Rs. 3,000 crores for green energy projects across Odisha, covering solar, hydro, ethanol and renewable energy manufacturing sectors, he said.
The CMD 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.
IREDA Chief, Shri 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 Shri Das reiterated IREDA’s commitment to driving India’s green energy goals, with an envisioned 10-15% contribution to the renewable energy debt financing space.
Gracing the conclave as chief guest, Deputy Chief Minister K V Singh Deo said the conclave has been organized prior to the Utkarsh Odisha Conclave-2025 to attract investors in RE sector so that more employment can be generated in the State.
“The Government of Odisha is committed to renewable energy. Our Prime Minister has shown the way forward for 2070. Solar is a key driver for the state’s growth and Odisha has everything possible going for it. Our investment climate is conducive, we have a robust system in place and we have the will power to harness it,” he said.
In his inaugural address, Principal Secretary, Energy, Vishal Kumar Dev said, “Odisha is on the cusp of a transformative energy transition. The demand for clean and affordable energy has never been more important to address the global challenge of climate change. This conclave is a testament to our commitment to clean energy.”
Solar power currently accounts for 21% of Odisha’s total 2,938 MW renewable energy capacity, including hydro. This includes 508 MW of ground-mounted, 58 MW of rooftop, and 42 MW of off-grid solar capacity.
At least 28% of the 1,343 MW of renewable energy in the development pipeline. Top districts for solar potential include Sundargarh (15.23 GW), Angul (14.06 GW), Balangir (11.62 GW), Jharsuguda (11.45 GW), and Dhenkanal (9.70 GW). These are also Odisha’s key industrial hubs.
Speaking about the Odisha Solar Conclave being a precursor to Utkarsh Odisha or Make in Odisha Conclave 2025, Managing Director, GRIDCO Ltd, Trilochan Panda said, “We have found that a modest potential of 200GW is available in the state currently. A large chunk will come from floating solar, rooftop solar and PM Kusum. A lot of incentives have been given by the state to promote renewable energy. The ecosystem is very encouraging.”
President and CEO of iFOREST, Chandra Bhushan said, “A green environment is only possible if we build a green economy. And clean energy is its biggest driver. There is demand, potential to supply and favourable conditions for the sector to grow. Five years from now, the potential of renewable energy will expand”.
The conclave demonstrated that a massive market is right here within the state. The event saw robust participation from solar developers, consumers, investors, government and civil society, who discussed roadmaps to solar expansion, solar integration, building a policy ecosystem that prioritizes ease of doing investments and more.
The event underscored the state’s commitment to achieving 7.5 GW of solar capacity by 2030, as part of the state’s larger vision to add 10.95 GW of renewable energy capacity by the same year.
The conclave, brought together 150+ commercial and industrial consumers, 100+ solar developers and 400+ participants to explore investment opportunities, foster partnerships, and discuss the enabling policy framework designed to transform Odisha into a solar energy hub.