India's Renewable Revolution: Paving the Path to Net-Zero by 2070

India needs Rs 32 lakh crore in renewable energy investment by 2030 to achieve its targets. IREDA's Pradip Kumar Das highlights the necessity of sector-focused financial solutions. By 2047, infrastructure development will advance to support decarbonization. Technologies like Green Hydrogen and Offshore Wind are essential for success.

At the 23rd India Power Forum 2024, Pradip Kumar Das, the Chairman & Managing Director of the Indian Renewable Energy Development Agency, emphasized the critical need for substantial investment in renewable energy. He stated that a projected Rs 32 lakh crore is necessary by 2030 to meet India's ambitious renewable energy targets.

Das urged lenders to adopt customer-centric approaches tailored specifically for the renewable sector, highlighting the need for timely financial solutions and innovative offerings. He underscored the vital role renewable energy plays in transitioning towards a sustainable, net-zero power sector.

The roadmap outlined by Das envisions a phased approach: ramping up renewable energy generation immediately, followed by infrastructure development from 2031 to 2047 for a decarbonized economy. By 2070, India aims to reach net-zero emissions, with emerging technologies like Green Hydrogen and Offshore Wind leading the way.

(With inputs from agencies.)