New Delhi: Indian Renewable Energy Development Agency Limited (IREDA), a leading public sector undertaking, Chairman and Managing Director (CMD) Pradip Kumar Das participated in the 12th SBI Banking & Economics Conclave held in Mumbai on the theme “Navigating Climate Challenges through Sustainable Opportunities.” During a panel discussion, Das highlighted IREDA’s pivotal role in advancing India’s clean energy transition and reaffirmed the agency’s commitment to accelerating investments in green technologies.
India’s Renewable Energy Milestones
Das noted that India has installed over 247 GW of renewable energy capacity, marking a threefold increase since 2014. He emphasized that the country is on track to achieve 500 GW of non-fossil capacity by 2030, in alignment with government energy transition targets. Achieving this milestone, he said, would not only support India’s climate commitments but also generate millions of green jobs while boosting domestic manufacturing and innovation.
IREDA’s Financial Achievements
Sharing IREDA’s recent accomplishments, Das informed that the agency sanctioned over Rs 33,148 crore in the clean energy and green manufacturing sectors during the first half of FY 2025–26. He highlighted that renewable energy is central to sustainability and decarbonization, spanning clean power generation, energy storage, electrification of transport and industry, and expansion of green hydrogen ecosystems.
Since its inception in 1987, IREDA has extended over Rs 1.7 lakh crore in financing support, facilitating emerging technologies such as solar-wind hybrid projects, ethanol, green ammonia, smart meters, and electric mobility.
Promoting Green Financing in India
Das also discussed the importance of strategic interventions to promote green financing, including the development of a green taxonomy and concessional provisions for green lenders on exposure limits. He noted that renewable energy projects carry relatively lower risks, making them suitable for targeted financial support to accelerate India’s clean energy transition.
About IREDA
Established in 1987, IREDA is a government-owned financial institution dedicated to promoting, financing, and supporting renewable energy and energy efficiency projects across India. It has played a key role in the country’s clean energy growth by funding solar, wind, hydro, biomass, and emerging green technologies, contributing significantly to India’s energy transition and sustainability goals.
