IREDA Chief Calls for INR 30 Lakh Crore Investment to Fulfill India's Climate Pledges
The CMD also hailed the recently launched 'PM Surya Ghar Muft Bijli Yojana,' a rooftop solar scheme initiated by Prime Minister Narendra Modi on February 13, 2024.
February 16, 2024. By Abha Rustagi
Highlighting the sectors in need of investment, CMD Das outlined manufacturing capacities for Solar, Electrolysers, Wind & Battery, as well as Transmission, Green Hydrogen, Solar, Hydro, Wind, and Waste to Energy sectors.
The CMD also hailed the recently launched 'PM Surya Ghar Muft Bijli Yojana,' a rooftop solar scheme initiated by Prime Minister Narendra Modi on February 13, 2024. Backed by an investment exceeding INR 75,000 crores, this visionary project aims to solarize 1 crore households, providing up to 300 units of free electricity every month. CMD Das expressed optimism that this initiative will significantly elevate the Rooftop Solar sector, fostering awareness about renewable energy and contributing to India's ambitious goal of achieving Net-Zero emissions by 2070 and Energy Independence by 2047.
India's remarkable progress in renewable energy development was also acknowledged by CMD Das, who cited various government initiatives such as Renewable Purchase Obligations (RPO), PM-KUSUM scheme, and incentives for Solar PV manufacturing. He emphasized that as India strives to become the third-largest economy by the next three years and a developed country by 2047, renewable sources are expected to meet approximately 90 percent of the energy demand.
Furthermore, CMD Das underscored the pivotal role played by IREDA over the last 37 years in nurturing the renewable energy sector in India.
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