IREDA's GIFT City office to boost Green Hydrogen and Renewable Energy Manufacturing Projects

IREDA, the Indian Renewable Energy Development Agency Ltd., has inaugurated an office in GIFT City, Gandhinagar, with a focus on offering debt options denominated in foreign currencies. This move aims to enable natural hedging, significantly cutting down financing costs for projects in Green Hydrogen and Renewable Energy Manufacturing.

Speaking at a panel discussion titled “Future Growth Opportunities for Long Duration Energy Storage” during the World Future Energy Summit 2024 in Abu Dhabi on April 17, 2024, IREDA's Chairperson & Managing Director, Shri Pradip Kumar Das, underscored the strategic importance of this initiative in propelling the nation towards a greener future.

According to projections by the Central Electricity Authority of India, the country anticipates a storage requirement of nearly 400 gigawatt-hours (GWh) by 2030-32, with an estimated investment exceeding Rs. 3.5 lakh crores.

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Published date : 20 Apr 2024 05:08PM