Abu Dhabi | India : IREDA has launched an office in GIFT City, Gandhinagar, specializing in offering Foreign Currency-denominated debt options. This initiative is geared towards substantially reducing financing expenses for Green Hydrogen and Renewable Energy Manufacturing projects, streamlining natural hedging, and hastening India’s shift towards sustainability. Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, underscored this strategic move during a panel discussion on “Future Growth Prospects for Long-Term Energy Storage” at the 2024 World Future Energy Summit in Abu Dhabi.

In his speech, Shri Das talked about how important it is to store energy to achieve the National Green Hydrogen Mission’s big goal of making over 5 million metric tons of hydrogen each year by 2030. He said we need to focus on making energy storage cheaper and better. He also said it’s important to have good plans for how to use and make energy storage technology. Making sure there are good financial options for investing in energy storage projects is also key.

India is already doing things to help with this, like planning how much storage we need until 2047 and asking for different kinds of storage technology. The government is also helping with making batteries and storing energy from water. Experts think India will need a lot of storage by 2030-32, and it could cost a lot of money. IREDA is a big supporter of renewable energy, and they’re ready to help with getting energy storage technology working in India.


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