Kolkata: Shri Pradip Kumar Das, Chairman and Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA), today underlined the strategic importance of Eastern India in achieving the nation’s ambitious clean energy targets.
Speaking at the CEO’s Roundtable on “Financing Viksit Bharat: An Eastern Region Perspective” during the 18th CII Banking Colloquium, IREDA CMD Shri Das highlighted the region’s vast, untapped potential in renewable energy and the pivotal role of green financing and robust governance.
CMD IREDA, Shri Das noted that as of July 2025, renewable energy accounts for only approximately 20% of Eastern India’s installed capacity, a stark contrast to the national average of nearly 48%. He emphasized that unlocking the region’s potential in sectors like solar, pumped storage, battery storage, and green hydrogen is critical for India’s journey towards sustainable growth.
“Governance is the cornerstone of growth,” Shri Das stated, showcasing IREDA’s strong recovery practices. In its 38-year history, IREDA has disbursed over ₹1.63 lakh crore while keeping write-offs to a remarkably low ₹135 crore. He credited this success to a “qualitative project appraisal” approach, which allows IREDA to take prudent risks on emerging technologies like green hydrogen and battery storage.
CMD IREDA, Shri Das detailed the monumental scale of the task ahead, stating that achieving India’s 500 GW non-fossil capacity target by 2030 will require mobilizing an estimated ₹30 lakh crore in investments. Eastern India, he added, is poised to become a key hub for green manufacturing, exports, and youth entrepreneurship in this transition.
In a forward-looking statement, the IREDA CMD Shri Das also called for the swift implementation of a comprehensive green taxonomy framework, which is currently in advanced stages of development. This framework, he explained, will provide statutory clarity on sustainable investments, a crucial step as industries like steel and cement increasingly shift towards green power. He also stressed the need for corporates to strengthen their ESG (Environmental, Social, and Governance) reporting to demonstrate measurable progress.
Shri Das concluded by reaffirming IREDA’s commitment to its role as India’s largest green NBFC, which has already financed over 30 GW of renewable energy capacity. “With the intent, strength, and spirit of MNRE and IREDA, we will continue to catalyze sustainable growth, de-risk emerging technologies, and support India’s journey to Viksit Bharat 2047,” he said.