IREDA CMD Stresses Role of Green Financing In Powering India’s Sustainable Future

Pradip Kumar Das, Chairman and Managing Director of the Indian Renewable Energy Development Agency Ltd. (IREDA), spotlighted India’s accelerating clean energy momentum during the 12th SBI Banking & Economics Conclave, themed, 'Navigating Climate Challenges through Sustainable Opportunities.'

Speaking at a panel discussion, Das emphasised IREDA’s leadership in financing India’s renewable energy transformation and its continued commitment to advancing green technologies. He noted that India has already installed over 247 GW of renewable capacity, a threefold rise since 2014, and is on track to achieve 500 GW of non-fossil fuel capacity by 2030, aligning with the government’s energy transition roadmap.

Highlighting IREDA’s performance, Das shared that the agency sanctioned over INR 33,148 crore for clean energy and green manufacturing sectors in the first half of FY 2025–26. Since its inception in 1987, IREDA has extended INR 1.7 lakh crore in financing support, backing innovations across solar-wind hybrid projects, ethanol, green ammonia, smart meters, and e-mobility.

He underlined that renewable energy forms the cornerstone of sustainability and decarbonization, encompassing clean power generation, electrified transport and industry, and the evolving green hydrogen and energy storage ecosystem.

Das also called for strategic measures to promote green financing, including a national green taxonomy and concessional exposure limits for green lenders, acknowledging the comparatively lower risk of renewable projects.