IREDA CMD highlights key financing strategies for India's energy transition at PPAC Foundation Day

New Delhi: The Indian Renewable Energy Development Agency Limited (IREDA) Chairman & Managing Director (CMD) Pradip Kumar Das participated in a high-level panel discussion on "Financing Mechanism for Energy Transition" during the 24th Foundation Day of the Petroleum Planning & Analysis Cell (PPAC). The session focused on the financial strategies required to accelerate India's transition to clean energy.

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Moderated by Gurpreet Chugh, MD-India, ICF, the panel included distinguished industry experts such as Praveena Rai, MD & CEO, MCX; Rajasree, Economic Advisor, Ministry of Environment, Forest and Climate Change (MoEFCC); and Vibhuti Garg, Director (South Asia), Institute for Energy Economics and Financial Analysis (IEEFA). The discussion revolved around the scale of investment needed for India’s energy transition, available funding avenues, challenges in capital mobilization, and essential policy interventions to bridge the financing gap.

During the session, Das emphasized that India's clean energy shift will necessitate investments between Rs 30–32 lakh crore by 2030. He highlighted the importance of strategic policy measures to unlock international capital and strengthen the domestic green finance market. A key recommendation was the establishment of a globally harmonized green taxonomy to facilitate higher investment inflows into the renewable energy sector.

Das also proposed the introduction of Assets Under Management (AUM)-linked investment obligations for domestic pension and insurance funds, along with green financing mandates for banks, to create a sustainable green capital ecosystem. Additionally, he underscored that with robust credit appraisal mechanisms, the risks associated with renewable energy projects can be effectively managed, citing IREDA’s minimal write-offs since its inception as an example of successful risk mitigation.

Concluding his remarks, Das stressed the need to instill awareness among future generations about sustainability and the responsibility of preserving the environment for a greener future.

The PPAC Foundation Day event provided a crucial platform for experts to deliberate on financial mechanisms necessary to drive India's energy transition, with a clear emphasis on policy, investment, and sustainable growth.

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