European Investment Bank's Global Director meets IREDA CMD

By Consultants Review Team Friday, 03 March 2023

aimingAiming for a collaboration on renewable energy and green hydrogen projects financing, Maria Shaw-Barragan, Global Director, European Investment Bank (EIB), met Pradip Kumar Das, Chairman and Managing Director (CMD), Indian Renewable Energy Development Agency Limited (IREDA) on Thursday.

Speaking on the potential collaboration, Das said: "IREDA is committed to supporting the growth of renewable energy in India through financing, and we will be happy to be partnering with the European Investment Bank to achieve our climate goals.

"This collaboration will provide much-needed support for the development of renewable energy and green hydrogen projects in India, helping to open up new opportunities for the country's citizens and advancing the government's goal of achieving 50 per cent of its installed energy capacity from non-fossil fuels by the year 2030."

Das also emphasised how this kind of collaboration can create new opportunities in the emerging segment of renewable energy, green hydrogen, green ammonia, e-mobility, battery storage, etc., enabling project developers, investors, and other stakeholders to leverage the expertise and resources of two reputable institutions.

The Global Director of the EIB commended IREDA for its impressive growth over the previous three years. She also praised the IREDA team for quickly, effectively, and qualitatively financing the RE projects.

Chintan Shah, Director (Technical), IREDA, Dr. R.C. Sharma, CFO, IREDA, and other senior IREDA and EIB officials also attended the meeting.

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