Jaipur: India has entered a rapid acceleration phase of its green transition, with renewable energy (RE) capacity surpassing 237 GW as of July 2025, according to Shri Pradip Kumar Das, Chairman & Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA).
Speaking at The Economic Times Rajasthan Business Summit in Jaipur, CMD IREDA, Shri Das highlighted the country’s progress and outlined the key strategies required to sustain this momentum.
During a panel discussion on “Green Transition – Innovative Development and Financial Models for Renewable Energy,” Shri Das noted that non-fossil sources now account for 50% of India’s installed power capacity. He pointed to the growing maturity of the market, citing that over 60 unique groups had successfully won utility-scale tenders in FY25.
To achieve the ambitious target of 485 GW by 2030, CMD IREDA, Shri Das stressed that India must add approximately 50 GW of renewable capacity annually. This, he said, necessitates a multi-pronged approach that includes bolstering domestic manufacturing, ensuring timely expansion of the grid, and attracting sustained investments.
CMD, IREDA, Shri Das also observed a significant shift in capital flows, with both global and domestic investors increasingly viewing renewables as a mainstream growth sector. This is evidenced by oversubscribed IPOs, rising retail participation, and a 2.5x increase in foreign direct investment (FDI) in the sector over the last three years.
To ensure projects move swiftly from planning to commissioning, the IREDA CMD called for faster credit appraisals and the creation of innovative, tailored financing models for the entire renewable energy value chain. He underlined the critical need for closer collaboration among policymakers, public sector undertakings (PSUs), investors, and industry leaders.
In addition to the panel discussion, CMD, IREDA, Shri Das participated in a roundtable with Chief Minister Shri Bhajan Lal Sharma on “Powering the Future: Investment and Financing Pathways for Renewable Energy in Rajasthan.” The discussion focused on PSU-led strategies to de-risk projects and accelerate the deployment of clean energy across the state.