Mr. Pradip Kumar Das, Chairman and Managing Director (CMD) of the Indian Renewable Energy Development Agency (IREDA), addressed a session on “Sustainable Growth of Renewable Energy & Equipment Manufacturing” at Utkarsh Odisha 2025 in Bhubaneswar.
During his address, Mr. Das emphasized that achieving India’s 500 GW renewable energy target by 2030 requires interventions across generation, manufacturing, financing, and workforce skilling. With an estimated Rs. 30-32 lakh crore investment needed, he stressed the importance of global funding, green bonds, and empowering NBFCs like IREDA to drive the sector’s growth.
Highlighting Odisha’s potential, Mr. Das stated that with the right mix of infrastructure, investment, and policy support, the state can emerge as a leader in India’s renewable energy sector. Odisha currently has an installed RE capacity of 2.94 GW, with a target of 10 GW by 2030. Its geographical advantages, industrial base, and strong policy framework make it an attractive destination for investments in solar, wind, hydro, and green hydrogen.
IREDA’s financial interventions in Odisha have been substantial, with a loan book exceeding Rs. 1,540 crore for Odisha-based projects as of Q3 FY 2024-25. The agency has sanctioned Rs. 4,315 crore for renewable projects, with 77% of these approvals issued since FY20 and cumulative disbursements exceeding Rs. 2,146 crore.
Deputy Chief Minister of Odisha, Kanak Vardhan Singh Deo, assured policy reforms to support the green energy transition. Vishal Kumar Dev, Principal Secretary (Energy), Odisha, also participated in the session.
The event concluded with key takeaways, including an expected Rs. 3.3 lakh crore investment by renewable energy developers in Odisha and major announcements on manufacturing projects and green ammonia production facilities with a capacity of approximately 7 MMTPA.
