Pradip Kumar Das, Chairman & Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA), participated in two key panel discussions at the Brainstorming Conclave organised by the Central Electricity Authority (CEA). The conclave, themed “Indian Power Sector Scenario by 2047,” focused on envisioning India’s future energy landscape.
In his address, Das emphasised the vital role of IREDA in facilitating India’s energy transition, specifically in the panels on “Financing the Energy Transition by 2047” and “Capacity Planning and Regulatory Framework for Renewable Energy by 2047.” He highlighted IREDA’s pioneering efforts in promoting cutting-edge renewable energy technologies, including Ethanol, Electric Mobility, Battery Storage, Pumped Storage, Floating Solar, Green Hydrogen, and Green Ammonia. Das underscored the agency’s commitment to making these innovations financially viable and accessible.
Das introduced the “DAS” principle, which stands for the Discipline of investors, Attitude of lenders, and Simplification of policies by central and state governments and regulatory bodies such as the RBI and SEBI. He noted that this approach has been instrumental in supporting the Government of India’s target to achieve 500 GW of non-fossil fuel energy capacity by 2030. The principle aims to streamline investments, foster positive lending behaviour, and encourage policy simplification, which is critical for India’s ambitious energy goals.
During the discussions, Das called for a clear definition of “Green” under the ‘Green Taxonomy’ to bolster investor confidence. He stressed the importance of aligning India’s green technologies with international standards, which would help attract climate finance to genuinely sustainable projects. This would further strengthen India’s renewable energy sector by providing a clear, standardised framework for green investments.
Das also projected that India would need approximately ₹285-345 lakh crore in investments by 2047 to achieve energy independence, presenting significant business opportunities for renewable energy financing. Highlighting IREDA’s initiatives, he mentioned the establishment of a wholly-owned subsidiary to expand services in the retail renewable energy market (B2C segment), targeting Small and Medium Enterprises (SMEs), MSMEs, and startups. This move is aimed at creating a robust financial ecosystem to support sustainable renewable energy practices.
By extending its expertise to the retail market, IREDA aims to offer innovative financing solutions to both urban and rural consumers. The agency envisions promoting sustainable energy practices across all sectors, thereby reducing carbon footprints and ensuring a clean, green future for India.
IREDA’s proactive strategies and clear focus on sustainability signal the agency’s pivotal role in guiding India’s energy transition over the coming decades.
