SANDEEP KUMAR | : – The Indian Renewable Energy Development Agency Limited (IREDA) emphasised the strategic role of Eastern India in achieving the nation’s clean energy targets during the CEO’s Roundtable on “Financing Viksit Bharat: An Eastern Region Perspective” at the 18th CII Banking Colloquium in Kolkata.
IREDA Chairperson and Managing Director Pradip Kumar Das noted that renewable energy represents only about 20% of Eastern India’s installed power capacity as of July 2025, far below the national average of nearly 48%. He highlighted the region’s untapped opportunities in solar power, pumped storage, battery storage, and green hydrogen production.
Das underscored that “growth must come with governance,” citing IREDA’s robust financial discipline. Over its 38-year journey, the agency has disbursed more than ₹1.63 lakh crore while limiting write-offs to just ₹135 crore. He stressed that strong recovery practices and qualitative project appraisal—particularly in emerging sectors like green hydrogen, battery storage, and solar manufacturing—are key to sustainable expansion.
Reaching India’s 500 GW non-fossil capacity target by 2030 will require an estimated ₹30 lakh crore in investments, Das said, adding that Eastern India can become a hub for green manufacturing, exports, and youth entrepreneurship.
He also highlighted the need for a comprehensive green taxonomy framework, now in advanced stages, to provide statutory clarity on sustainable investments. Industries such as steel and cement, he noted, will increasingly depend on renewable power, making enhanced ESG reporting critical for corporate credibility.
As India’s largest green non-banking financial company, IREDA has financed more than 30 GW of renewable capacity. Das affirmed the agency’s commitment to de-risking new technologies, catalysing sustainable growth, and supporting India’s vision of Viksit Bharat 2047.
