IREDA sanctions loans for green energy projects in Maharashtra

The Indian Renewable Energy Development Agency Limited (IREDA), a renewable energy project financing company, has authorised Rs 144.45 billion in loans and distributed Rs 100.18 billion to various green energy projects across Maharashtra. Reportedly, IREDA, in collaboration with the Mahratta Chamber of Commerce, Industries and Agriculture (MCCAI), held a workshop in Pune, Maharashtra on “Greening India with Renewables” on May 20, 2022. 

Out of a total loan distribution of Rs 794.46 billion, the company has disbursed Rs 100.18 billion in Maharashtra alone. During the financial year 2022, IREDA authorised a loan of Rs 25.64 billion to 12 RE project accounts and disbursed Rs 1,362 million in Maharashtra.

In April 2022, IREDA approved a loan of Rs 2.67 billion to BluSmart Mobility for the purchase of 3,000 all-electric automobiles in the Delhi-NCR region. BluSmart Mobility would use the new funds to purchase 3,000 all-electric vehicles, allowing the company to expand its EV fleet. IREDA has disbursed the first tranche of Rs 357 million from the sanctioned loan of Rs 2.67 billion to the company.