The Chairperson and Managing Director of the Indian Renewable Energy Development Agency (IREDA) participated in a key panel discussion at the 26th World Energy Congress in Rotterdam. A press release was issued on April 26, 2024.
The chairperson highlighted India’s ambitious target of achieving 500 GW of non-fossil fuel energy capacity by 2030, positioning it as a leader in the fight against climate change. He emphasized India’s commitment to achieving net-zero emissions by 2070, further solidifying its climate goals.
India currently ranks fourth globally in renewable energy installed capacity, showcasing rapid progress in the sector.
IREDA’s Role in the Transition:
- As India’s largest green financier, IREDA plays a crucial role in accelerating the energy transition.
- The chairperson discussed IREDA’s efforts in facilitating project financing through innovative financial instruments to manage risks and attract private sector investment.
The panel discussion also addressed the ongoing global energy crisis. The chairperson stressed the importance of diversifying energy sources and building robust infrastructure for energy security.
He also proposed allocating 4-5% of domestic pension/insurance fund assets to renewable energy bonds to deepen the market and attract more investment.