New Delhi: Indian Renewable Energy Development Agency Limited Chairman and Managing Director Mr. Pradip Kumar Das participated in a panel discussion titled “PSU Leaders’ Vision: Drafting India’s Growth Story Towards 2047” at the 9th National PSU Summit held in New Delhi.
He emphasized that India’s journey toward becoming a USD 30 trillion economy under the Viksit Bharat vision is fundamentally driven by the energy transition and the growth of clean energy financing.
Green finance crucial for energy security and industrial growth
Addressing the panel, Mr. Das highlighted that green finance will play a central role in strengthening:
- India’s energy security
- Industrial competitiveness
- Reduction in import dependence
He noted that development finance institutions must take a proactive role in de-risking emerging sectors and mobilising large-scale private and commercial investments.
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₹50 lakh crore investment needed in power sector by 2032
Mr. Das underlined the massive investment requirement in India’s energy sector, stating:
- ₹50 lakh crore investment needed by 2032
- ₹200 lakh crore investment required by 2047
He stressed that bridging this investment gap will be essential for achieving long-term growth and energy sustainability goals.
Focus on dispatchability gap and energy transition challenges
Highlighting structural challenges in India’s power sector, he pointed to the “dispatchability gap” as a major concern.
Key observations included:
- India has 53.7% non-fossil installed capacity
- However, only 29.2% of actual electricity generation comes from non-fossil sources
- This gap requires urgent focus on storage and grid flexibility
He emphasized that energy storage and balancing solutions are critical for a stable renewable-powered grid.
Battery storage, green hydrogen and offshore wind to drive future growth
Mr. Das identified key sectors that will shape India’s next growth phase:
- Battery energy storage systems
- Green hydrogen
- Offshore wind energy
- Sustainable mobility solutions
He said these sectors will define India’s clean energy transformation and long-term industrial competitiveness.
Sustainable development beyond GDP growth
He further stated that the vision of Viksit Bharat must balance economic growth with environmental sustainability. According to him, key priorities include:
- Clean air and environmental protection
- Affordable and reliable energy access
- Public well-being alongside GDP growth
About IREDA
The Indian Renewable Energy Development Agency (IREDA) is a Mini Ratna public sector enterprise under the Ministry of New and Renewable Energy. It provides financial assistance for renewable energy and energy efficiency projects, playing a key role in supporting India’s clean energy goals and accelerating the country’s transition toward a sustainable energy future.
