New Delhi: Indian Renewable Energy Development Agency Limited's (IREDA) Chairman and Managing Director (CMD) Pradip Kumar Das affirmed IREDA’s commitment to supporting Bhutan’s renewable energy sector, as he represented India at the 'Bhutan-India Renewable Energy Roundtable.' The event, held on Monday in Thimphu and jointly organised by the Governments of India and Bhutan, was focused on fostering cooperation in renewable energy development between the two nations.
Addressing the critical theme of “Access to Financing for Renewable Energy Projects,” Das assured that IREDA is prepared to facilitate Bhutan’s renewable energy initiatives within the guidelines set by the Reserve Bank of India (RBI) and the Ministry of New and Renewable Energy (MNRE). Das outlined IREDA’s 360-degree evaluation approach to project financing, which aims to provide sustainable and reliable funding options for renewable projects in Bhutan.
“We are ready to provide support to Bhutan's renewable energy ambitions by offering competitive interest rates and the longest possible loan tenures,” said Das. He emphasized IREDA's role in helping boost Bhutan’s renewable energy potential through its extensive expertise in the sector, identifying rooftop solar as a promising area to complement Bhutan's well-established hydropower resources. Das noted that debt financing at competitive rates has become increasingly vital for modern renewable projects, which often require scalable financing rather than grant funding.
Das further highlighted that with large hydropower projects now classified as renewable energy, IREDA can provide financial backing for such projects, contributing to Bhutan's clean energy objectives. This, he noted, would support Bhutan’s ambitious efforts to expand its renewable energy footprint in the region.
IREDA's General Manager (Projects) SK Dey, who participated in a panel discussion on “Role of Solar Energy in Energy Mix," emphasized the potential of blended financing models to accelerate the development of solar projects in Bhutan, underlining their relevance to Bhutan's long-term energy strategy.
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