IREDA CMD highlights India’s green growth path at SBI Banking & Economics Conclave

New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) Chairman and Managing Director (CMD) Pradip Kumar Das participated in the 12th SBI Banking & Economics Conclave held in Mumbai on the theme “Navigating Climate Challenges through Sustainable Opportunities.”

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During a panel discussion, Das highlighted IREDA’s pivotal role in advancing India’s clean energy transition and reaffirmed the agency’s commitment to accelerating investments in green technologies. He noted that India has already installed over 247 GW of renewable energy capacity, marking a threefold increase since 2014, and is on track to achieve 500 GW of non-fossil capacity by 2030, in line with the government’s energy transition goals.

Das emphasized that reaching this milestone would not only help India meet its climate commitments but also generate millions of green jobs while opening new opportunities in domestic manufacturing and innovation. Sharing IREDA’s recent achievements, he informed that the organization sanctioned more than Rs 33,148 crore in the clean energy and green manufacturing sectors during the first half of FY 2025–26.

He further stated that renewable energy serves as the cornerstone of sustainability and decarbonization, encompassing clean power generation and storage, electrification of transport and industry, and the expansion of green hydrogen and energy storage ecosystems. Since its inception in 1987, IREDA has extended over Rs 1.7 lakh crore in financing support, facilitating emerging technologies such as solar-wind hybrid projects, ethanol, green ammonia, smart meters, and electric mobility.

Elaborating on strategic interventions for promoting green financing in India, Das also spoke about the need to develop a green taxonomy and introduce concessional provisions for green lenders on exposure limits, recognizing the relatively lower risks associated with renewable energy projects.

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