IREDA CMD Emphasizes Urgent Investment Needs in Renewable Energy at World Bank Webinar
GG News Bureau
New Delhi, 16th Feb. The Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Ltd. (IREDA), Pradip Kumar Das, addressed an international webinar organized by The World Bank on the occasion of the release of the latest South Asia Development Update “Toward Faster, Cleaner Growth.”
In his address, CMD, IREDA stressed the critical need for substantial investment to meet India’s Nationally Determined Contributions (NDC) goals by 2030. He highlighted that an estimated investment of Rs. 30 lakh crores over the period FY 2024-2030 is required in various sectors including Solar, Wind, Transmission, Green Hydrogen, and more.
CMD Das also spoke about the significance of the “PM Surya Ghar Muft Bijli Yojana,” the rooftop solar scheme launched by Prime Minister Narendra Modi on February 13, 2024.
He emphasized that the visionary project, with an investment exceeding Rs. 75,000 crores, aims to solarize 1 crore households by providing up to 300 units of free electricity every month. This initiative, he noted, will significantly elevate the Rooftop Solar sector and contribute to India’s ambitious goal of achieving Net-Zero emissions by 2070 and Energy Independence by 2047.
Highlighting India’s leadership in Renewable Energy development, CMD Das mentioned several government initiatives including Renewable Purchase Obligations (RPO), PM-KUSUM scheme, and the PLI scheme for Solar PV manufacturing. He also underlined the pivotal role played by IREDA in nurturing the Renewable Energy sector in India over the last 37 years.
Other notable speakers at the webinar included Ms. Maria Dimitriadou, Special Representative to the UN and the WTO, World Bank; Ms. Franziska Ohnsorge, Chief Economist, South Asia Region, World Bank; Mr. Philip Kenworthy, Economist, Prospects Group, World Bank; and Mr. Peter Oksen, Green Technology and Research manager, WIPO GREEN.
