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IREDA Sanctions Rs 14,000 Cr Loans for Green Energy Projects in Maharashtra

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IREDA, an Indian Renewable Energy Development Agency Limited (government-owned) renewable energy project financing company, has approved loans of Rs 14,445 crore and distributed Rs 10,018 crore to various green energy projects across Maharashtra.

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IREDA, in association with the Mahratta Chamber of Commerce Industries and Agriculture, (MCCAI), organized a workshop on ‘Greening India through renewables’ in Pune, Maharashtra on May 20, 2022, according to IREDA statements.

Pradip Kumar Das (CMD, IREDA) addressed the Maharashtra industry leaders and investors in a keynote speech. He urged them to pay more attention to Renewable Energy Sector (RE) and to invest in projects that not only generate clean energy, but also reduce CO2 emissions and improve quality of life.

Das emphasized IREDA’s commitment towards the development of renewable energie projects in all states including Maharashtra. He noted that out of a total loan of Rs 1,20,946 crore sanctioned by IREDA, Rs 14,445 crore was sanctioned for 422 RE project accounts in Maharashtra.

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The company has disbursed Rs 10,018 crore in Maharashtra alone out of its total loan disbursement of Rs 79,446 crore.

IREDA approved a loan of Rs 2,564 crore to 12 RE project accounts during FY22 and disbursed Rs 1,362 million in Maharashtra.

Das praised the achievements of the company during the COVID-19 epidemic and said that IREDA’s historic financial performance would not have been possible without all the departments’ collective efforts.

He also mentioned that IREDA may be the only central government enterprise to publish its audited financial reports on April 30th 2022, 30 days after the close of the financial year.

He said that the key ingredients to such remarkable achievements are teamwork and honesty, transparency, and a commitment to all stakeholders.

Chintan Shah (Director-Technical), IREDA, delivered Friday’s theme presentation.

He stated that India could transform the RE sector by creating an environment for RE manufacturing and RE storage manufacturing.

IREDA also finances RE manufacturing at attractive interest rates. This will increase domestic manufacturing.

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Prashant Girbane (Director General, MCCAI) stated that India’s greening through renewable energy is essential for reducing energy costs and creating jobs.

Deepak Karandikar (Vice-President, MCCAI) and Rajesh Mutha (President, Maharashtra Solar Manufactures Association, MASM), highlighted several obstacles to the development of RE.

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