Jaipur: Pradip Kumar Das, Chairman and Managing Director of the Indian Renewable Energy Development Agency Limited (IREDA), called for innovative financing mechanisms to fast-track India’s renewable energy growth while speaking at The Economic Times Rajasthan Business Summit held in Jaipur today.
Participating in a panel discussion on Green Transition, Innovative Development and Financial Models for Renewable Energy, Das said, “India has firmly entered the acceleration phase of its green transition, with RE capacity crossing 237 GW by July 2025 and non-fossil sources contributing 50% of installed power.”
He pointed out that with over 60 unique groups winning utility-scale tenders in FY25, the market is showing greater depth. Achieving the 485 GW renewable energy target by 2030 will require annual additions of nearly 50 GW, he added, stressing the need for stronger domestic manufacturing, timely grid expansion and sustained investments.
Das also noted a decisive shift in global and domestic capital flows, describing renewables as a mainstream growth sector. “Oversubscribed IPOs, rising retail participation, and record FDI inflows (2.5× growth in 3 years) signal growing investor confidence in India’s clean energy story,” he said. He further emphasised that sustaining this momentum will require faster credit appraisal, financing the entire RE value chain with tailored and innovative financing models, and closer collaboration across policymakers, PSUs, investors and industry leaders to ensure projects move swiftly from planning to commissioning.
In addition to the panel, the IREDA CMD joined a roundtable on Powering the Future: Investment and Financing Pathways for Renewable Energy in Rajasthan, chaired by Chief Minister Bhajan Lal Sharma. The session focused on PSU-led strategies to de-risk projects and accelerate clean energy deployment in the state.
BI Bureau
