New Delhi: Shri Pradip Kumar Das, the Chairman & Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA), today delivered a keynote address at the Mint Sustainability Summit, held at Taj Palace, New Delhi.
Speaking on an eminent panel titled “Scaling Clean Energy for a Climate-Ready India – Bridging Policy, Financing, and Systems Delivery,” Shri Das outlined India’s impressive progress in the renewable energy sector and laid out the critical steps needed to achieve the nation’s ambitious climate targets.
Shri Das highlighted that India’s installed renewable energy capacity has now reached a remarkable 237 GW as of July 2025. This milestone has been pivotal in India achieving 50% of its total installed power capacity from non-fossil fuel sources, a goal accomplished five years ahead of the original target. To continue this momentum and meet the 2030 target of 500 GW, he emphasized the need for an annual addition of approximately 50 GW of renewable energy.
A significant focus of Shri Das’s address was the transformation of India’s manufacturing landscape. He noted the country’s rapid growth in solar module capacity, which has expanded from 38 GW in FY24 to 100 GW in 2025.
This expansion marks a pivotal shift from a history of near-total import dependence to a future of self-sufficiency across the entire value chain. While acknowledging that challenges persist in upstream components like polysilicon and wafers, he asserted that India is well-positioned to meet its domestic demand and contribute to the clean energy goals of other developing nations.
To ensure a smooth transition to a clean energy future, Shri Das called for decisive action on systemic reforms. He underscored the importance of establishing Green Energy Corridors and streamlining land conversion processes, citing the state of Karnataka’s efficient approval system as a best-practice example.
He also stressed the urgent need for reforms in DISCOMs (electricity distribution companies), the implementation of smart metering, ensuring payment security, and stricter enforcement of Renewable Purchase Obligations (RPOs).
Financing, Shri Das stated, is a cornerstone of India’s clean energy ambitions. He called for the mobilization of a substantial ₹30 lakh crore by 2030, a goal that requires the deepening of bond markets and the strengthening of Non-Banking Financial Companies (NBFCs).
Reaffirming IREDA’s leadership role, Shri Das highlighted that the agency has already financed over 30 GW of renewable energy projects and remains committed to its mission of catalyzing clean energy financing across the country.