New Delhi: The Indian Renewable Energy Development Agency Ltd. (IREDA) has announced a significant push to accelerate renewable energy (RE) growth in the North-Eastern Region (NER) of India, committing substantial financial resources and special incentives.
With Prime Minister’s strong focus on the North East region of India and the Indian Renewable Energy Development Agency Ltd. (IREDA) actively boosting renewable energy (RE) capacity in the North Eastern States.
This aligns with the government’s vision to transform the North East into an “Ashtalakshmi” (eight forms of wealth) and a “Green Frontier” for India’s clean energy future.
Speaking at a regional event on ‘Financing Renewable Energy in the North Eastern Region’ in Guwahati, IREDA Chairman and Managing Director (CMD) Shri Pradip Kumar Das reaffirmed the agency’s commitment, highlighting the region’s immense potential in hydropower and solar energy.
IREDA has already sanctioned over ₹3,500 crore in financing for various renewable energy projects across the North-East.
To encourage greater investment and adoption, IREDA is offering a general concessional interest rate, including a 50 basis points (0.50%) rebate for projects located in the North-Eastern Region. An additional 50 basis points rebate is also offered for women-led RE projects.
The agency is actively supporting grassroots deployment of clean energy through flagship government schemes:
Under the PM-KUSUM Scheme (Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan), IREDA has supported the deployment of 3,800 solar pumps in Tripura, replacing polluting and expensive diesel pumps for farmers.
IREDA has also financed several Rooftop Solar projects across states like Assam.
Shri Das emphasized that the North-East has already achieved approximately 5 GW of renewable capacity, accounting for nearly 60% of its total installed power generation capacity.
“The North-East is our green frontier. IREDA is committed to empowering the region with clean, affordable, and reliable renewable energy,” stated Shri Das. He added that with enhanced grid connectivity and innovative financing models, the NER is poised to emerge as a green energy hub for India and its neighboring countries.
The financial commitment is part of the larger national goal, which requires an estimated ₹28 lakh crore in additional investments for India’s RE capacity to double again by FY2030. IREDA’s targeted financing aims to unlock the North-East’s clean energy potential, ensuring inclusive and sustainable development.