New Delhi: Shri Pradip Kumar Das, the Chairman and Managing Director (CMD) of the Indian Renewable Energy Development Agency Limited (IREDA), underscored the agency’s critical role in propelling India’s clean energy transition during the 12th SBI Banking & Economics Conclave in Mumbai.
Speaking on the theme “Navigating Climate Challenges through Sustainable Opportunities,” Shri Das reaffirmed IREDA’s dedication to accelerating investments in green technologies.
Shri Das noted that India has already installed over 247 GW of renewable energy capacity, marking a threefold increase since 2014. He stated that the country is firmly on course to achieve 500 GW of non-fossil capacity by 2030, a goal that aligns with the government’s ambitious energy transition targets.
Achieving this national milestone, he stressed, would not only ensure India meets its climate commitments but would also be a powerful engine for growth, generating millions of green jobs and opening new avenues for domestic manufacturing and innovation.
Sharing recent organizational achievements, the CMD Shri Das informed the gathering that IREDA sanctioned more than Rs 33,148 crore in the clean energy and green manufacturing sectors during the first half of the current fiscal year (FY 2025–26).
CMD IREDA Shri Das emphasized that renewable energy is the cornerstone of sustainability and decarbonization, encompassing clean power generation, energy storage, the electrification of transport and industry, and the expansion of the green hydrogen and energy storage ecosystems.
Since its inception in 1987, IREDA has extended over Rs 1.7 lakh crore in financing support, facilitating the growth of emerging technologies such as solar-wind hybrid projects, ethanol, green ammonia, smart meters, and electric mobility.
To further bolster green financing in India, Shri Das proposed strategic interventions, including the need to develop a green taxonomy and introduce concessional provisions for green lenders on exposure limits, citing the relatively lower risks associated with renewable energy projects.