Guwahati: The Indian Renewable Energy Development Agency Limited (IREDA) has deepened its focus on expanding renewable energy in India’s North-Eastern Region, sanctioning more than ₹3,500 crore in financing for green energy projects. The initiative includes concessional interest rates and special incentives to boost the region’s participation in the country’s clean energy transition.

At the regional conference titled “Financing Renewable Energy in the North Eastern Region” held in Guwahati, IREDA Chairman and Managing Director Pradip Kumar Das said the North-East holds immense potential for hydropower and solar generation, and will play a key role in India’s renewable energy growth.

Das noted that India’s renewable capacity has tripled since FY2014 and is expected to double again by FY2030, requiring about ₹28 lakh crore in new investments. The North-Eastern states have already reached nearly 5 GW of renewable capacity, which accounts for around 60 percent of their total installed power generation.

To encourage investments, IREDA offers a 50 basis points interest rebate for projects in the North-East and an additional 50 basis points rebate for women-led projects. The agency has also supported initiatives under government schemes such as PM-KUSUM and Rooftop Solar, enabling installations including 3,800 solar pumps in Tripura and multiple rooftop systems across Assam.

Emphasising the strategic importance of the region, Das said, “The North-East is our green frontier. IREDA is committed to empowering the region with clean, affordable, and reliable renewable energy.” He added that with enhanced grid connectivity, targeted policy reforms, and innovative financing models, the region can emerge as a green energy hub for India and its neighbouring countries.

Das also pointed out that several of IREDA’s business vertical heads come from the North-East, helping the organisation better understand and respond to the region’s specific challenges and opportunities in renewable energy development.

BI Bureau