IREDA CMD urges innovative financing models to accelerate RE growth

New Delhi/Jaipur: Indian Renewable Energy Development Agency Limited (IREDA) Chairman & Managing Director (CMD) Pradip Kumar Das, has called for the adoption of innovative financing models to fast-track renewable energy (RE) deployment in India. He was speaking at a panel discussion on “Green Transition – Innovative Development and Financial Models for Renewable Energy” during The Economic Times Rajasthan Business Summit 2025, held in Jaipur on Thursday.

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Highlighting India’s progress, Das said the country has firmly entered the acceleration phase of its green transition, with renewable energy capacity crossing 237 GW by July 2025 and non-fossil sources contributing 50 percent of the total installed power capacity. He pointed out that over 60 unique groups secured utility-scale tenders in FY25, reflecting a deepening of the RE market. However, achieving the ambitious 485 GW renewable energy target by 2030 will require annual additions of nearly 50 GW, supported by robust domestic manufacturing, timely grid expansion and sustained investments.

Commenting on the sector’s strong investment outlook, Das noted a decisive shift in global and domestic capital flows, with renewables emerging as a mainstream growth sector. “Oversubscribed IPOs, rising retail participation, and record FDI inflows, which have grown 2.5 times in the last three years, reflect the growing investor confidence in India’s clean energy story,” he said.

The IREDA CMD stressed the need for faster credit appraisals and financing across the entire RE value chain through tailored and innovative financial solutions. He also called for greater collaboration among policymakers, PSUs, investors and industry leaders to ensure projects move swiftly from planning to commissioning, keeping India on course to exceed its 2030 clean energy ambitions.

Separately, Das also took part in a high-level roundtable on “Powering the Future: Investment and Financing Pathways for Renewable Energy in Rajasthan”, chaired by Rajasthan Chief Minister Shri Bhajan Lal Sharma. The discussion focused on PSU-led strategies to de-risk renewable projects and accelerate clean energy deployment in the state.

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