Indian Renewable Energy Development Agency (IREDA) Chairman & Managing Director (CMD) Mr. Pradip Kumar Das participated in the Reserve Bank of India’s (RBI) Policy Seminar on Climate Change Risks and Finance, where key financial leaders discussed challenges faced by Regulated Entities (REs) in mitigating climate risks and mobilizing green finance.
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Addressing the gathering, Mr. Das emphasized that India’s renewable energy sector would require an estimated Rs 40-46 lakh crore in investments by 2030, covering e-mobility and related infrastructure. He stressed the need for policies to attract global funds and deepen India’s domestic green finance market. He also noted IREDA’s strong risk management, highlighting that despite cumulative disbursements exceeding Rs 1.43 lakh crore, the agency’s total write-offs remain below Rs 200 crore.
Key Proposals by Mr. Das:
- Establishing a unified, single-window platform to streamline borrowing for renewable energy projects.
- Enhancing insurance solutions to mitigate project cash flow risks.
- Leveraging satellite technology, AI, and big data to improve climate risk prediction.
- Encouraging research and development (R&D) for India-specific solutions, such as temperature-resistant solar modules and reinforced wind turbine blades.
- Developing a globally standardized green taxonomy to boost investments in renewable energy.
- Introducing Asset Under Management (AUM) obligations for domestic pension funds, insurance funds, and banks to enhance green capital markets.
The panel discussion was moderated by RBI’s Executive Director JK Dash and featured key speakers including NABARD Chairman Shaji KV, Canara Bank MD & CEO K Satyanarayana Raju, NaBFID MD Rajkiran Rai G, Bank of Baroda MD & CEO Debdatta Chand, and Dr. Ashu Bharadwaj, Programme Director for Climate Change at NITI Aayog.
The seminar was inaugurated by RBI Governor and Deputy Governor, with a keynote address delivered by RBI Governor Mr. Sanjay Malhotra (1990-batch IAS officer).
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