Shri Pradip Kumar Das, Chairman & Managing Director, Indian Renewable Energy Development Agency Limited (IREDA), was a key speaker in the panel discussion on “Financing Mechanism for Energy Transition” during the 24th Foundation Day celebrations of the Petroleum Planning & Analysis Cell (PPAC).
The panel which was moderated by Mr. Gurpreet Chugh, MD-India, ICF, comprised speakers, among others, such as, Smt. Praveena Rai, MD & CEO, MCX; Smt. Rajasree, Economic Advisor, MoEFCC; and Smt. Vibhuti Garg, Director (South Asia), IEEFA, along with Shri Pradip Kumar Das. It discussed topics such as how much investment will be needed for India’s energy transition, sources of financing available; difficulties faced in mobilizing capital, and policy measures necessary to address the financing gap.
Noting that India would need investments in the range of ₹30–32 lakh crore by 2030 for its energy transition, Shri Das emphasized key strategic policy interventions to draw international capital toward the country, strengthening domestic green financing. He argued in favor of developing a green taxonomy aligned with international practices for facilitating larger investments into renewable energy. He also suggested new AUM-linked investment obligations for domestic pension and insurance funds as well as green financing mandates for banks to create a robust and sustainable green capital market in this country. He further added that risks pertaining to renewable energy projects could be managed well with adequate credit evaluation capability, something that could be evidenced with IREDA’s insignificant write-off since inception.
In his final words, he encouraged the audience to educate the next generation about sustainability and the need to save Mother Earth.
