Question
How much investment does India need during FY 2024-2030
to meet its COP Climate Pledges, as stated by CMD of IREDA?Solution
• Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Ltd. (IREDA) Pradip Kumar Das addressed an international webinar organized by The World Bank, on the occasion of the release of the latest South Asia Development Update "Toward Faster, Cleaner Growth", on February 14, 2024. •CMD, IREDA underscored the critical need for substantial investment to meet India’s Nationally Determined Contributions (NDC) goals by 2030, stating that the investment required is estimated to be Rs. 30 lakh crores over the period FY 2024-2030. •Investment is required in manufacturing of capacity for Solar, Electrolysers, Wind & Battery; Transmission, Green Hydrogen, Solar, Hydro, Wind, and Waste to Energy sectors.
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