New Delhi: Pradip Kumar Das, Chairman and Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA), has called for accelerated policy, financing, and systemic reforms to help India achieve its ambitious clean energy goals. He made these remarks at the Mint Sustainability Summit, held at the Taj Palace, New Delhi.
India’s Progress in Renewable Energy
Speaking during a panel discussion on “Scaling Clean Energy for a Climate-Ready India – Bridging Policy, Financing, and Systems Delivery,” Das highlighted that India’s installed renewable energy capacity reached 237 GW by July 2025. 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 target of 500 GW of renewable energy by 2030, India must add nearly 50 GW annually, he stressed.
Expanding Manufacturing Capacity
Das pointed to the sharp rise in solar module manufacturing capacity, which grew from 38 GW in FY24 to 100 GW in 2025. This expansion has reduced dependence on imports and strengthened self-sufficiency across the renewable value chain.
However, challenges remain in upstream components such as polysilicon and wafers. Despite this, India is well-positioned to meet domestic demand and extend support to other developing nations.
Addressing Systemic Challenges
The IREDA CMD emphasized the need to strengthen Green Energy Corridors and streamline land conversion processes. He cited Karnataka’s single-window clearance system as a successful model for accelerating renewable projects.
He further highlighted reforms required in electricity distribution companies (DISCOMs), adoption of smart metering, robust payment security mechanisms, and strict enforcement of Renewable Purchase Obligations (RPOs) to address systemic bottlenecks.
Financing the Energy Transition
Das underlined the need to mobilize Rs 30 lakh crore by 2030 for India’s clean energy push. This would require deepening bond markets and strengthening non-banking financial companies (NBFCs).
He reaffirmed IREDA’s leadership role in the sector, noting that the agency has financed more than 30 GW of renewable energy projects. He reiterated IREDA’s mission to act as a catalyst in driving clean energy financing across the country.
About IREDA
Indian Renewable Energy Development Agency Limited (IREDA), a Mini Ratna PSU under the Ministry of New and Renewable Energy, is India’s premier financial institution dedicated to promoting renewable energy and energy efficiency. With decades of expertise, IREDA plays a pivotal role in advancing India’s green energy transition and financing sustainable development.
