India’s renewable energy push requires an investment of around ₹30-lakh crore, which can unlock an addressable debt market of ₹22-lakh crore for green financing, Indian Renewable Energy Development Agency (IREDA) CMD PK Das said on Saturday.

Addressing the 61st National Cost and Management Accountants’ Convention, Das emphasised that India’s infrastructure push requires sizable investments.

The large scale of investments required across infrastructure sectors in India, such as power, roads, ports, etc, are in the range of ₹220-260-lakh crore between FY24 and FY30 according to the National Infrastructure Pipeline.

Of this, the renewable energy investment is projected at around ₹30-lakh crore till FY30, unlocking an addressable debt market of over ₹22-lakh crore for green financing institutions such as IREDA, he noted.

On green consulting, Das pointed out IREDA’s commitment for advancing technological integration, operational excellence and policy alignment within the renewable energy sector through its advisory support and consulting services.

India’s green consulting market currently stands at ₹2,000-2,500 crore as per CEEW and is expected to touch ₹14,000-16,000 crore by 2030 given strong demand for RE project advisory, impact assessment and ESG reporting services.

The state-run non-banking financial company (NBFC) is planning a follow-on public offer (FPO) in the current financial year to meet its capital requirement and for lending to green energy projects.

The plan is to float an FPO to raise funds for renewable energy projects as the borrowing plan of ₹24,200 crore for FY25 would not be adequate. The lender is eyeing the second half of the current financial year or H1 FY26 for the FPO.

In FY24, the company disbursed around ₹25,089 crore. In FY23, it was around ₹21,639 crore, and ₹16,071 crore and around ₹11,000 crore in FY22 and FY21, respectively.

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