Bhubaneswar: The Indian Renewable Energy Development Agency (IREDA) is pleased to announce its strengthened focus on harnessing the renewable energy potential of Odisha, a state poised for significant growth in the renewable energy sector.
As of June 2024, Odisha’s installed renewable energy capacity stands at approximately 2.8 GW, including around 2.1 GW of large hydro and 0.7 GW from other renewable sources such as solar, small hydro, and wind (Source: MNRE Data).
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 contracted capacity from plants within
and outside Odisha, contributing to a 29% green energy share in its generation mix.
IREDA has been instrumental in supporting Odisha’ ‘s renewable energy sector, having sanctioned loans amounting to ₹3,060 crore and disbursed ₹1,934 crore as of 30th June 2024. The current loan book for Odisha stands at ₹1,456 crore.
In a media meeting organised today, Mr Das emphasised that Odisha is poised to play a pivotal role in the
green hydrogen revolution, which promises to enhance value realization for traditional sectors like
steel and aluminium through green power.
The production of green hydrogen, which demands over 60% of its production cost from electricity, necessitates substantial green energy input. The state of 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.
