IREDA poised to support India’s Renewable Energy Sector through its innovative financing and advisory offerings

Bengaluru, 01 July 2024

Addressing the 61st National Cost and Management Accountants’ Convention at Ekta Nagar, Statue of Unity in Gujarat today, Mr. Pradip Kumar Das, CMD IREDA, showcased its pivotal role in supporting Renewable Energy growth in India, backed by substantial industry expertise and a dedicated focus towards Corporate Governance including publication of FY24 Annual Audited Financial Results within 19 days- the fastest in India’s Banking & Financial Services sector & holding of Annual General Meeting within 84 days.

Mr. Das emphasized the large scale of investments required across infrastructure sectors in India (such as Power, Roads, Ports, etc.) totaling Rs 220-260 Lakh Crores between FY24 to FY30 as per the National Infrastructure Pipeline. Of this, the Renewable Energy investment is projected at ~Rs 30 Lakh Crore till 2030 unlocking an addressable debt market of over Rs 22 Lakh Crore for green financing institutions such as IREDA.

Pursuant to the topic of ‘Green Consulting’, Mr. Das spoke about IREDA’s commitment to advancing technological integration, operational excellence, and policy alignment within the Renewable Energy sector through its advisory support & consulting services. India’s Green Consulting market currently at Rs 2,000-2,500 Crores as per CEEW is expected to touch Rs 14,000-16,000 Crores by 2030 given strong demand for RE project advisory, impact assessment & ESG reporting services.