IREDA CMD highlights India’s rise as renewable energy role model

New Delhi: Pradip Kumar Das, Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Ltd. (IREDA) on Thursday participated in an international webinar organised by The World Bank. This webinar was convened on the occasion of the release of the latest South Asia Development Update “Toward Faster, Cleaner Growth”.

In his address, Das, IREDA underscored the critical need for substantial investment to meet India’s Nationally Determined Contributions (NDC) goals by 2030. He emphasised that an estimated investment of Rs 30 lakh crore is required over the period spanning FY 24-30. He provided a comprehensive overview of the sectors requiring investment, which notably encompass Manufacturing Investments (Solar, Electrolyser, Wind & Battery), Transmission, Green Hydrogen, in addition to Solar, Hydro, Wind, and Waste to Energy sectors.

Further, Das shed light on the significance of the rooftop solar scheme, “PM Surya Ghar Muft Bijli Yojana”, launched by the Prime Minister, Narendra Modi on February 13, 2024. This visionary project, backed by an investment exceeding Rs 75,000 crore, aims to solarise 1 crore households by providing up to 300 units of free electricity every month.

He also emphasised India’s rise as a role model for Renewable Energy development worldwide, citing Govt of India’s several initiatives like Renewable Purchase Obligations (RPO), PM-KUSUM scheme, ‘Must-run’ status for RE assets, PLI scheme for Solar PV manufacturing, and the allowance of up to 100 per cent FDI under the automatic route for renewable energy, etc.