IREDA CMD calls for policy, financing and systemic reforms to scale clean energy in India

New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) Chairman and Managing Director (CMD) Pradip Kumar Das underscored the need for accelerated policy, financing, and systemic reforms to achieve India’s clean energy targets at the Mint Sustainability Summit held at the Taj Palace, New Delhi.

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Speaking during a panel discussion on “Scaling Clean Energy for a Climate-Ready India – Bridging Policy, Financing, and Systems Delivery,” Das highlighted India’s progress in renewable energy, noting that the country’s installed renewable capacity had reached 237 GW by July 2025. He pointed out that non-fossil fuel sources now account for 50 percent of India’s installed power capacity, a milestone achieved five years ahead of schedule.

To meet the ambitious target of 500 GW of renewable energy by 2030, Das stressed that India will need to add around 50 GW of capacity annually.

On the manufacturing front, he noted that solar module capacity had expanded significantly, from 38 GW in FY'24 to 100 GW in 2025, reducing reliance on imports and moving towards self-sufficiency across the value chain. While challenges persist in upstream components such as polysilicon and wafers, he said India is well-positioned to meet domestic demand and support other developing nations.

Das emphasized the importance of strengthening Green Energy Corridors and streamlining land conversion processes, citing Karnataka’s single-window clearance system as a successful example. He also flagged the need for reforms in electricity distribution companies (DISCOMs), smart metering, payment security, and strict enforcement of Renewable Purchase Obligations (RPOs) to address systemic gaps.

On financing, he underlined the requirement to mobilize Rs 30 lakh crore by 2030 through measures such as deepening bond markets and strengthening non-banking financial companies (NBFCs). He reaffirmed IREDA’s leadership role in the sector, having financed more than 30 GW of renewable energy projects, and reiterated its mission to catalyze clean energy financing across the country.

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