India needs Rs. 30 lakh crores investment during FY 2024-2030 to meet its COP Climate Pledges: IREDA CMD at World Bank Webinar
India needs Rs. 30 lakh crores investment during FY 2024-2030 to meet its COP Climate Pledges: IREDA CMD at World Bank Webinar
“India has been a role model for Renewable Energy development worldwide”
Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Ltd. (IREDA) Shri 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”, on February 14, 2024.
In his address, CMD, IREDA underscored the critical need for substantial investment to meet India’s Nationally Determined Contributions (NDC) goals by 2030, stating that the investment required is estimated to be Rs. 30 lakh crores over the period FY 2024-2030. Investment is required in manufacturing of capacity for Solar, Electrolysers, Wind & Battery; Transmission, Green Hydrogen, Solar, Hydro, Wind, and Waste to Energy sectors, he added.
Speaking about the significance of “PM Surya Ghar Muft Bijli Yojana”, the rooftop solar scheme launched by Prime Minister, Shri Narendra Modi on 13th February 2024, the CMD said: “This visionary project, backed by 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 is poised to elevate the Rooftop Solar sector to unprecedented heights in the country. The scheme will not only provide substantial benefits but also foster awareness about renewable energy among the people-at-large, contributing to India’s ambitious goal of achieving Net-Zero emissions by 2070 and Energy Independence by 2047.”
