IREDA sanctioned loan of Rs.14,445 cr; Disbursed Rs.10,018 cr for Renewable Energy projects in Maharashtra

NEW DELHI- Indian Renewable Energy Development Agency Limited (IREDA) in association with the Mahratta Chamber of Commerce Industries and Agriculture (MCCAI), conducted a workshop on "Greening India Through Renewables" on May 20th 2022 in Pune, Maharashtra.

In his keynote address, Shri Pradip Kumar Das, CMD, IREDA, urged Maharashtra’s industry leaders and investors to pay attention to Renewable Energy (RE) sector and invest in the RE projects, which are not only generating clean energy but also reducing Co2 emissions and improving quality of life.

The Hon’ble Prime Minister, Shri Narendra Modi, has set an ambitious target of 500 GW of non-fossil energy capacity by 2030, and Maharashtra can contribute significantly to this goal by utilising its green energy potential.

Shri Das emphasised IREDA's commitment to the development of renewable RE projects in all states, including Maharashtra, noting that out of a total loan sanctioned by IREDA of Rs. 1,20,946 crores, Rs. 14,445 crores were sanctioned for 422 RE project accounts in Maharashtra.

The company has disbursed Rs. 10,018 crores in Maharashtra out of a total loan disbursement of Rs. 79,446 crores. In Maharashtra, IREDA sanctioned loan of Rs. 2,564 crores for 12 RE project accounts and disbursed Rs. 1362 crores during FY 2021-22.

CMD, IREDA praised the company's exceptional financial achievements during the last two years despite the COVID-19 epidemic, stating that the company's historic financial results would not have been possible without the collective efforts of all departments. He also underlined that IREDA might be the only CPSE to publish its audited financial results on April 30th, 2022, only just 30 days after March ended.

The driving elements behind such outstanding accomplishments are teamwork, honesty, transparency, and commitment to the stakeholders.

The theme presentation was delivered by Shri Chintan Shah, Director (Technical), IREDA. He said that India can transform the landscape of RE sector by creating an ecosystem for RE manufacturing and storage manufacturing. Apart from other RE sectors, IREDA is also financing RE manufacturing at competitive interest rates. This will boost the domestic manufacturing sector.

Shri Prashant Girbane, Director General, MCCAI, in his welcome address, said that greening India through Renewables is very important for energy cost reduction as well as the creation of job opportunities. 

On behalf of industries, Shri Deepak Karandikar, Vice-President, MCCAI, and Shri Rajesh Mutha, President, Maharashtra Solar Manufactures Association (MASM), have raised several challenges for the development of the RE sector.

During the Q&A session, CMD, IREDA, and Director (Technical) IREDA answered all of the audience's questions.

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