Pradip Kumar Das, Chairman & Managing Director of the Indian Renewable Energy Development Agency (IREDA), participated in the Reserve Bank of India (RBI) Policy Seminar on Climate Change Risks and Finance. The event brought together key financial leaders to address challenges faced by Regulated Entities (REs) in mitigating climate change risks and ensuring sustainable finance.
During his address, Das emphasised that India’s renewable energy sector requires an investment of approximately ₹40-46 lakh crore by 2030, including funding for e-mobility and related infrastructure. To facilitate this, he highlighted the need for policies that attract global funds while also deepening India’s domestic green financing market.
He underscored IREDA’s role as a specialised green financing agency in mitigating appraisal risks, citing the agency’s strong financial track record. Despite cumulative disbursements exceeding ₹1.43 lakh crore since its inception, IREDA has maintained minimal write-offs of less than ₹200 crore.
Das advocated for a collaborative approach among developers, lenders, regulators, and policymakers to create a robust ecosystem for accelerating renewable energy and climate financing. He also proposed the development of a unified, single-window platform to streamline the borrowing process for stakeholders in renewable energy projects.
Addressing risk mitigation strategies, Das highlighted the need for innovative insurance solutions to safeguard project cash flows and ensure viability. He further recommended that the government and research institutions leverage satellite technology, artificial intelligence (AI), and big data analytics to predict climate risks, thereby enhancing sectoral resilience against extreme weather events.
Moreover, he stressed the importance of investing in research and development (R&D) initiatives and nurturing startups to create India-specific solutions, such as temperature-resistant solar modules, reinforced wind turbine blades, and advanced weather monitoring systems.
Das concluded by advocating for a globally standardised green taxonomy to attract greater investment into the renewable energy sector. He proposed the introduction of Asset Under Management (AUM) obligations for domestic pension funds, insurance funds, and investment mandates for banks, which would help deepen India’s domestic green capital markets and accelerate the country’s clean energy transition.
The policy seminar was inaugurated by the Governor and Deputy Governor of the RBI, with RBI Governor Sanjay Malhotra delivering the keynote address. The event served as a crucial platform for discussions on aligning financial frameworks with India’s ambitious climate and renewable energy goals.
