Pradip Kumar Das, Chairperson & Managing Director of the Indian Renewable Energy Development Agency Ltd (IREDA), highlighted India’s commitment to achieving 500 GW of non-fossil-fuel energy capacity by 2030 at the 26th edition of the World Energy Congress in Rotterdam, Netherlands. He positioned India as a beacon of hope in the global battle against climate change through this ambitious goal.
CMD Das discussed India’s journey towards energy transition and emphasized IREDA’s pivotal role in promoting renewable energy adoption within the country. He underscored India’s aim to achieve Net Zero emissions by 2070, noting that India ranks fourth globally in renewable energy installed capacity due to rapid progress in this sector.
At the World Energy Congress, CMD Das outlined IREDA’s initiatives to facilitate financing for energy transition projects, leveraging innovative financial instruments to mitigate risks and attract private sector participation in renewable energy ventures.
The panel also addressed the global energy crisis, with CMD Das emphasizing the importance of diversification and robust infrastructure for energy security. He proposed allocating 4-5% of Assets Under Management (AUM) from domestic pension/insurance funds into renewable energy bonds to deepen the bond market and attract additional global and local investments.
CMD Das reaffirmed IREDA’s commitment to a green economy, highlighting the company’s efforts to attract investments, drive technological advancements, and advocate for policy reforms. As India advances towards Net Zero emissions by 2070, IREDA remains dedicated to leading the way towards a sustainable and secure energy future.
