The Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency (IREDA), Pradip Kumar Das, underscored the critical need for innovative financial mechanisms to support India’s transition towards renewable energy. He stated that India aims to establish 500 GW of renewable energy capacity by 2030, positioning it at the forefront of global efforts to combat climate change.
Additionally, the country aims to achieve net-zero emissions by 2070. India’s swift advancements in the renewable sector have ranked it among the top four nations globally in terms of installed renewable energy capacity. Das also highlighted the significance of diversifying energy sources and strengthening infrastructure to maintain energy security amid the ongoing global energy crisis.
As India’s leading specialized green finance non-banking financial company (NBFC), IREDA is crucial in funding projects that facilitate the energy transition. As reported by ThePrint, the CMD reiterated IREDA’s ongoing dedication to fostering a sustainable and secure energy future for India as it moves toward its net-zero emission targets by 2070.
