IREDA and Norfund Collaborate on Renewable Energy Investments in India


IREDA (Indian Renewable Energy Development Agency Ltd.) Chairman & Managing Director, Shri Pradip Kumar Das, along with the IREDA team, visited the office of Norfund (Norwegian Investment Fund for developing countries) in Bangkok, Thailand. The purpose of the visit was to discuss investment opportunities and collaborative funding models for renewable energy (RE) development in India.


During the meeting, representatives from Norfund, including Ms Fay Chetnakarnkul, Regional Director Head of Asia office, and Mr. Inge Stolen, Senior Investment Manager, Clean Energy, engaged in discussions with IREDA. IREDA delivered a comprehensive presentation highlighting the company’s significant role in India’s RE sector and its plans for dedicated growth in the clean energy sector to achieve the Nationally Determined Contributions (NDC) targets set by the Indian government.

Shri Das emphasized India’s remarkable progress in the RE sector, surpassing the global average growth rate, while maintaining lower per capita energy consumption and carbon emission intensity compared to developed nations. IREDA stressed the need for global collaboration to ensure the holistic development of clean and RE across the world.

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The meeting also addressed the challenges of rising global interest rates and the need for innovative and collaborative financial models to support large-scale deployment of new technologies such as Green Hydrogen, Bio-Ethanol, Carbon capture storage, and sequestration. Both IREDA and Norfund showcased a strong focus on clean climate through green energy financing, highlighting the synergistic potential in the Indian market.


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