https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

IREDA’s New Venture: Accelerating Green Hydrogen and Renewable Energy Manufacturing

Indian Masterminds Stories

Indian Renewable Energy Development Agency Ltd. (IREDA) has established a specialized office in GIFT City, Gandhinagar, aimed at offering debt options denominated in foreign currencies. This strategic step is set to revolutionize the financing landscape for Green Hydrogen and Renewable Energy Manufacturing projects, providing natural hedging and reducing financing costs significantly.

Chairperson’s Vision at World Future Energy Summit

Shri Pradip Kumar Das, Chairperson & Managing Director of IREDA, underscored the significance of this initiative during a panel discussion titled “Future Growth Opportunities for Long Duration Energy Storage” at the 2024 World Future Energy Summit in Abu Dhabi on April 17, 2024. He outlined how this move aligns with the nation’s aspirations for a greener future.

Empowering the Green Hydrogen Mission

Das emphasized the pivotal role of energy storage in realizing the National Green Hydrogen Mission’s ambitious target of over 5 million metric tons per annum (MTPA) of hydrogen production by 2030. He outlined key priorities for advancing storage technologies to meet this target.

Priorities for Advancing Energy Storage

The CMD highlighted the imperative of boosting research and development efforts to enhance the cost-effectiveness and performance of energy storage solutions. He also stressed the importance of implementing policies that strengthen the supply chain network crucial for successful deployment. Das emphasized that providing competitive and tailored financial solutions will be instrumental in driving investment in energy storage projects.

India has been proactive in this realm, with initiatives such as formulating a storage requirement roadmap up to 2047, technology-agnostic storage tenders, and supportive government interventions for battery manufacturing and pumped storage hydropower projects. The Central Electricity Authority of India anticipates a storage requirement of nearly 400 gigawatt-hours (GWh) by 2030-32, with an estimated investment exceeding Rs. 3.5 lakh crores.

IREDA has consistently led in renewable energy financing by offering innovative products for emerging technologies at competitive rates. The establishment of this new office in GIFT City underscores IREDA’s commitment to supporting the deployment of energy storage technologies in India.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
IAS Ajitabh Sharma
“80% of Time Spent on Non-Core Tasks”: Rajasthan Principal Secretary Ajitabh Sharma Questions IAS Work Culture, Calls for Reform
Nitin Gadkari
India to Become Net Energy Exporter in 6-7 Years, Highlights Hydrogen and Biofuels: Union Minister Nitin Gadkari
Bank of India - BOI
Bank of India Plans to Raise Rs 20,000 Crore via Infrastructure Bonds in FY 2025-26
BEML Limited
For Operational Excellence, BEML Lays Foundation of State-of-the-Art Central Warehousing Centre in Bilaspur
rec-logo
Green Energy Boost: REC Forms New Subsidiary for 3GW Ananthapuram-II REZ Transmission Project
Bhupendra Patel CM Gujarat
CM Bhupendra Patel’s Pro-People Move: Uniform House Tax of ₹200 Annually for Rural Government-Assisted Homes in Gujarat
CM Nitish Kumar
Bihar: Gaya to Become Bihar’s Largest Industrial Township Under AKIC; ₹16,524 Cr Investment Expected
Shailaja Chandra
“Nanis & Dadis Have a Brain”: Former IAS Officer Shailaja Chandra Weighs in on 1970s vs 2025 Life Debate - “This Generation Has It Better”
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-06-25 at 5.07
Why Has the DGCA Fined Air India Rs 5 Crore Since Privatisation?
Former Diplomat Ashok Sajjanhar
Iran Is Weakest Now, Needs a Face-Saver
WhatsApp Image 2025-06-23 at 12.39
Retired Officers Lead 7-Day Mission to Revive Betwa River with 55 Check Dams | Video Interview
ADVERTISEMENT
UPSC Stories
Sanish Kumar Singh
“If you want it badly enough, you’ll find a way,” Sanish Kumar Singh AIR 8, UPSC IFS 2024 
The real interview, he says, was much more humane. “The board was conversational. The chairman opened...
Raju Wagh
When the Battlefield Became a Study Room and a Dream Took Flight
Amid IED blasts and anti-Maoist operations in Bastar, CRPF Commando Raju Wagh taught village kids, studied...
WhatsApp Image 2025-06-18 at 10.31
"I Just Wanted to Breathe Again": The Man Who Fought Death and Made It to UPSC
Struck by COVID at the peak of his UPSC prep, Devanand Telgote spent months on ECMO, unsure he'd live,...
Social Media
Shailaja Chandra
“Nanis & Dadis Have a Brain”: Former IAS Officer Shailaja Chandra Weighs in on 1970s vs 2025 Life Debate - “This Generation Has It Better”
Responding to Viral Post on Middle-Class Struggles, Ex-Bureaucrat Offers Candid Reflection on Then and...
Tigress Arrowhead
The End of an Era: A Queen Falls - Ranthambore’s Iconic Tigress Arrowhead (T-84) Passes Away at 14, Hours After Daughter’s Relocation
Ranthambore mourns the loss of one of its fiercest and most beloved tigers, Arrowhead, the granddaughter...
Screenshot 2025-06-13 194001
Wild Elephant Disrupts Riverside Picnic, Sparks Debate on Human Encroachment; IFS Parveen Kumar Shares the Video - Watch Here!
Mr. Kaswan used the viral video, which has garnered over 1.5 lakh views, to highlight the risks of human...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
IAS Ajitabh Sharma
“80% of Time Spent on Non-Core Tasks”: Rajasthan Principal Secretary Ajitabh Sharma Questions IAS Work Culture, Calls for Reform
Nitin Gadkari
India to Become Net Energy Exporter in 6-7 Years, Highlights Hydrogen and Biofuels: Union Minister Nitin Gadkari
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-06-25 at 5.07
Former Diplomat Ashok Sajjanhar
WhatsApp Image 2025-06-23 at 12.39
ADVERTISEMENT
ADVERTISEMENT