IREDA calls for policy support to boost green financing via GIFT IFSC

New Delhi: Indian Renewable Energy Development Agency Ltd (IREDA) has emphasised the need for enabling policy and regulatory support to scale up green infrastructure financing through GIFT IFSC, as India accelerates its renewable energy transition.

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Speaking at a roundtable organised by the International Financial Services Centres Authority (IFSCA) in collaboration with the Ministry of New and Renewable Energy (MNRE), CMD Pradip Kumar Das highlighted strategies to strengthen offshore capital mobilisation for the renewable energy sector.

The session was chaired by Santosh Kumar Sarangi (IAS), Secretary, MNRE, and attended by key stakeholders including senior government officials, global financial institutions and industry experts.

Das noted that the establishment of IREDA’s subsidiary at GIFT IFSC aims to access diversified foreign currency funding and optimise hedging costs, enabling more competitive financing solutions for renewable energy projects.

He emphasized the need for continuous alignment between regulatory frameworks and market expectations, particularly in areas such as capital adequacy norms and sponsor support mechanisms, to enhance investor confidence and improve capital flow efficiency.

The CMD also called for periodic expansion of the Harmonised Master List of Infrastructure Sub-Sectors to include emerging areas such as green hydrogen, ethanol and renewable energy component manufacturing, facilitating access to long-term infrastructure financing.

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