World Energy Congress discussed the ongoing global energy crisis in Rotterdam
Chairperson & Managing Director of Indian Renewable Energy Development Agency Ltd (IREDA) Pradip Kumar Das has highlighted India’s commitment to achieving Net Zero emissions by the year 2070 at the 26th edition of World Energy Congress https://www.worldenergy.org/ held 22-25 Apr 2024 in Rotterdam.
Speaking on a panel discussion on “The New Interdependencies: Trust, Security and Climate Resilience”, he pointed out that with rapid progress in renewable energy sector, India stands fourth globally in renewable energy installed capacity.
Das shared insights into India’s journey towards energy transition and underscored IREDA’s https://www.ireda.in/ crucial role in advancing renewable energy adoption within the country.
“India’s ambitious goal of achieving 500 GW of non-fossil-fuel energy capacity by the year 2030 positions it as a beacon of hope in the global fight against climate change https://www.climate.gov/ .”
As the largest pure-play green financing NBFC of the country, IREDA plays a pivotal role in expediting energy transition https://mnre.gov.in/ , he underscored.
Das emphasized IREDA’s efforts in facilitating financing for energy transition projects, through utilization of innovative financial instruments to mitigate risks and encouraging private sector involvement in the renewable energy sector.
The World Energy Congress panel also discussed the ongoing global energy crisis https://www.opec.org/opec_web/en/ , with the Chairman stressing the importance of diversification and robust infrastructure to ensure energy security.
He emphasized the significance of integrating regional markets through strong power networks. He also proposed the mandate of allocating 4%-5% of Assets Under Management (AUM) from domestic pension / insurance funds into renewable energy bonds, to deepen the bond market and increase additional global and local investments.
The Chairman reaffirmed IREDA’s constant commitment to a green economy. The company continues to attract investments, foster technological advancements, and advocate for policy reforms.
As India progresses towards achieving Net Zero emissions by 2070, IREDA remains at the forefront, guiding the way towards a sustainable and secure energy future. Fiinews.com
