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

Indian Renewable Energy Development Agency Ltd. (IREDA) has established an office in GIFT City, Gandhinagar, specializing in providing foreign currency-denominated debt options to reduce financing costs for Green Hydrogen and Renewable Energy Manufacturing projects. IREDA's Chairperson & Managing Director, Mr. Pradip Kumar Das, highlighted this move at the World Future Energy Summit 2024, stressing the important role of energy storage in achieving the National Green Hydrogen Mission's ambitious targets.

He outlined priorities for advancing storage technologies, including enhancing research and development, strengthening supply chain networks, and offering competitive financial solutions. India has taken significant steps in this direction, including formulating storage requirement roadmaps and supporting battery manufacturing. The Central Electricity Authority projects a storage requirement of nearly 400 gigawatt-hours by 2030-32, with an estimated investment exceeding US$ 41.91 billion (Rs. 3.5 lakh crore). IREDA remains committed to supporting the deployment of energy storage technologies in India.

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