Greater Noida (Staff Correspondent): Indian Renewable Energy Development Agency Limited (IREDA) CMD Pradip Kumar Das on Thursday participated in a high-level panel discussion on “Financing Mechanism for Energy Transition” during the 24th Foundation Day of the Petroleum Planning & Analysis Cell (PPAC).
The session moderated by Gurpreet Chugh, MD-India, ICF featured distinguished speakers, including Praveena Rai, MD & CEO, MCX; Rajasree, Economic Advisor, MoEFCC; Vibhuti Garg, Director (South Asia), IEEFA, alongside Pradip Kumar Das. The session explored a broad spectrum of issues, including the scale of investment required for India’s energy transition, available funding sources, major challenges in mobilizing capital, and critical policy measures needed to bridge the financing gap.
During the discussion, Das emphasized that India’s energy transition will require investments in the range of ₹30–32 lakh crore by 2030. He stressed the need for strategic policy interventions to unlock both international capital and deepen the domestic green finance market. Key among his recommendations was the creation of a globally harmonized green taxonomy to streamline and attract larger volumes of investment into the renewable energy sector. He further proposed introducing AUM-linked investment obligations for domestic pension and insurance funds, along with green financing mandates for banks, to build a robust and sustainable green capital market within the country. He further underscored that with the right credit appraisal expertise, risk in RE projects can be well managed as evidenced by miniscule write-off for IREDA since inception.
As a concluding remark, he urged the audience to pass on awareness to the next generation about the importance of sustainability and taking care of Mother Earth.
