Diaspora vital connectors between India and global innovation ecosystems: MoS (See 'Corp Brief') Srinagar Khel Sankalp affirms unified commitment to athlete-centric sports ecosystem (See 'Corp Brief') IBC - If corporate debtor is solvent & functioning company, then insolvency process invoked only to secure payment of individual dues by initiation of CIRP, amounts to misuse of IBC as recovery mechanism: SC (See 'Legal Desk') Reining in Misuse of IBC for Recovery (See CORP EINSICHT) SAMAVESH Portal, NMBA 2.0, SETU and SMILE Beggary Apps Launched at Chandigarh Shivir (See 'Corp Brief') PMLA - Attachment of a residential property upheld where Act itself permits attachment not only of property directly acquired from proceeds of crime, but also of untainted property representing equivalent value where actual proceeds of crime are unavailable or untraceable: HC (See 'Legal Desk') Veep urges Youth to become Job Creators and Nation-Builders (See 'Corp Brief') CCIC launches 'Soul Threads' - A Heritage Designer Collection Celebrating Artisanal Legacy (See 'Corp Brief') IBC - If statutory authority, during subsistence of moratorium u/s 14, directs bank to place lien on bank accounts of Corporate Debtor, and bank acts on same, it would amount to execution against Corporate Debtor and is barred by Sec 14: NCLT (See 'Legal Desk') IPR - As Constitutional Court under Article 215 of Constitution, appropriate orders are warranted to ensure that its directions are not taken in perfunctory or dismissive manner: HC (See 'Legal Desk') Prohibition of Benami Property Transactions Act, 1988 - Mere involvement of cash does not exclude transaction from ambit of benami, particularly where source is undisclosed & transaction is structured to legitimize unaccounted money during demonetization: SAFEMA Tribunal (See 'Legal Desk') PMLA - Mere fact that some allegations in predicate FIR were quashed, or that attached property was allegedly purchased before crime period, did not invalidate attachment if companies were recipients of proceeds of crime: SAFEMA (See 'Legal Desk')

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MNRE, IREDA highlight Odisha's Green Energy Potential

Published: Jun 13, 2024

By TIOLCorplaws News Service

NEW DELHI, JUNE 13, 2024: MINISTRY of New & Renewable Energy (MNRE), in collaboration with the Indian Renewable Energy Development Agency Ltd. (IREDA), organized a pre-event conference for Global Wind Day at the Welcome Hotel in Bhubaneswar yesterday.

The speech of Lalit Bohra, Joint Secretary* (MNRE) was read out by Dr. B. K. Mohanty, Director (Finance), IREDA, in which he emphasized the rapid development of renewable energy across India and highlighted the measures taken by the Government of India including the state of Odisha. According to the National Institute of Wind Energy (NIWE), India's onshore wind potential is estimated at 1,164 GW at 150 meters above ground level, with Odisha's potential of 12 GW.

In his keynote address, Pradip Kumar Das, CMD, IREDA highlighted Odisha's significant green energy potential and the promising opportunities within the state. He pointed out Odisha's potential to lead in green hydrogen projects, stressing the state's critical role in advancing sustainable energy initiatives. As of 31 st March 2024, IREDA has disbursed cumulative loans totalling Rs. 1,25,917 crores in renewable energy, with Rs. 26,913 crores disbursed to wind power projects nationwide. Specifically, Rs. 1,637 crores loan has been disbursed by IREDA towards renewable energy projects in Odisha. Das also underlined Odisha's Renewable Energy Policy 2022, which aims to drive investments in clean energy, with a special focus on RE manufacturing and emerging technologies such as green hydrogen, green ammonia, and floating solar. He reaffirmed the vital importance of harnessing renewable energy for sustainable national development and encouraged renewable energy developers to seize the expanding opportunities in Odisha and other states.

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