The Indian Renewable Energy Development Agency (IREDA) on Saturday said it looked at harnessing the renewable energy potential of Odisha which promises significant growth in the renewable energy sector. As of June 2024, Odisha's installed renewable energy capacity stands at approximately 2.8 GW (gigawatt), including around 2.
1 GW of large hydro and 0.7 GW from other renewable sources such as solar, small hydro, and wind. “We are dedicated to accelerating Odisha’s renewable energy development and realising its full potential.
Our investments and support reflect our commitment to sustainable growth and energy transition in Odisha," IREDA chairman and managing director Pradip Kumar Das said here at media interaction. IREDA has been instrumental in supporting Odisha's renewable energy sector, having sanctioned loans amounting to Rs 3,060 crore and disbursed Rs 1,934 crore as of June 30, 2024. The current loan book for Odisha stands at Rs 1,456 crore.
Odisha has seen significant announcements and ongoing constructions of green projects, requiring an estimated investment of around Rs 3 lakh crore. These projects will drive the transition towards a more sustainable energy future and bolster Odisha’s economic growth. Odisha’s renewable energy potential is substantial, with the state ranking among the top 10 in solar, wind, and hydro potential, and 14th in biomass potential.
The state has approximately 3.8 GW of renewable energy contracted capacity and 4.2 GW of thermal contra.