IREDA office opened in GIFT City
Recently Indian Renewable Energy Development Agency Limited (IREDA) has started its office in GIFT City, Gandhinagar. This office of IREDA will promote green hydrogen and renewable energy generation projects.
Importance of IREDA office located in GIFT City
- This office of IREDA located at GIFT City, Gandhinagar will specialize in providing loan options in foreign currencies.
- This will facilitate natural hedging (risk management strategy).
- This will also significantly reduce financing costs for green hydrogen and renewable energy manufacturing projects
CMD of IREDA at World Future Energy Summit – 2024
Green Future on “Future Growth Opportunities for Long Term Energy Storage” by Pradeep Kumar Das, Chairman and Managing Director (CMD), IREDA, at the World Future Energy Conference – 2024 held in Abu Dhabi (UAE) on April 17, 2024. Underlined the strategic initiatives that have contributed to the journey.
During this panel discussion, Pradeep Kumar Das emphasized on the important role of energy storage in achieving the ambitious target of hydrogen production of more than 5 million metric tonnes per annum (MTPA) by 2030 under the National Green Hydrogen Mission. He also outlined several key priorities for the development of storage technologies. CMD Das stressed the need to increase research and development efforts to improve the performance and reduce costs of energy storage solutions. He pointed out that providing competitive and customized financing solutions will encourage investment in energy storage projects.
India’s active steps towards investment in energy storage projects
- India has taken various proactive steps towards investing in energy storage projects.
- This includes creation of storage requirement roadmap till the year 2047, technology-agnostic storage tenders, supportive government interventions for battery manufacturing and pumped storage hydropower projects.
- The Central Electricity Authority has projected a storage requirement of about 400 gigawatt-hours (GWh) by 2030-31, with an estimated investment of over Rs 3.5 lakh crore.
FAQs
In Gift City, Gandhinagar.
In Abu Dhabi (UAE).
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