IREDA CMD Highlights Path to Scaling Clean Energy at Mint Sustainability Summit

Pradip Kumar Das, Chairman and Managing Director of the Indian Renewable Energy Development Agency (IREDA), underlined India’s accelerating clean energy momentum during a panel discussion at the Mint Sustainability Summit held today at Taj Palace, New Delhi.

Speaking on the session “Scaling Clean Energy for a Climate-Ready India – Bridging Policy, Financing, and Systems Delivery”, Das noted that India’s installed renewable energy capacity had reached 237 GW by July 2025, with 50% of total power capacity from non-fossil sources, meeting the milestone five years ahead of schedule. To achieve the 2030 target of 500 GW, he stressed the need for annual capacity additions of nearly 50 GW.

Das pointed to rapid progress in domestic manufacturing, highlighting the surge in solar module capacity from 38 GW in FY24 to 100 GW in 2025. He acknowledged ongoing challenges in upstream components such as polysilicon and wafers but emphasized India’s trajectory toward self-sufficiency and the potential to support other developing countries.

On infrastructure, he called for expedited development of Green Energy Corridors and land conversion, citing Karnataka’s streamlined approval process as a best practice. He also flagged systemic gaps in DISCOM reforms, smart metering, payment security, and enforcement of Renewable Purchase Obligations (RPOs).

Das underlined the financing challenge, projecting that India would require ₹30 lakh crore by 2030 to meet its clean energy goals. He urged deepening of bond markets and strengthening of NBFCs to mobilize capital. He reaffirmed IREDA’s leadership role, noting the agency has already financed over 30 GW of projects and remains committed to catalyzing clean energy financing nationwide.