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IREDA CMD Highlights Green Financing as Key to India’s Sustainable Growth

Pradip Kumar Das, Chairman and Managing Director of the Indian Renewable Energy Development Agency Ltd. (IREDA), emphasized the growing importance of green financing in driving India’s clean energy transformation during the 12th SBI Banking & Economics Conclave, themed “Navigating Climate Challenges through Sustainable Opportunities.”

Speaking at a panel discussion, Das underscored IREDA’s pivotal role in supporting India’s renewable energy expansion and advancing the nation’s green technology ecosystem. He noted that India’s installed renewable capacity has surpassed 247 GW, marking a threefold increase since 2014, and reaffirmed the country’s trajectory toward achieving 500 GW of non-fossil fuel capacity by 2030, in line with the government’s energy transition roadmap.

Highlighting the agency’s financial achievements, Das revealed that IREDA sanctioned Rs 33,148 crore in funding for clean energy and green manufacturing projects during the first half of FY 2025–26. Since its establishment in 1987, IREDA has extended Rs 1.7 lakh crore in cumulative financial support, backing diverse projects across solar-wind hybrid systems, ethanol production, green ammonia, smart metering, and e-mobility.

He further stressed that renewable energy is the foundation of India’s sustainability and decarbonization goals, encompassing clean power generation, electrified transportation, and emerging technologies such as green hydrogen and energy storage.

Das also advocated for stronger policy measures to strengthen green financing frameworks, including the development of a national green taxonomy and concessional exposure limits for green lenders — emphasizing that renewable projects generally present lower financial risk compared to conventional energy investments.