European Investment Bank eyes funding opportunities in India's RE, green hydrogen projects

Maria Shaw-Barragan, global director of European Investment Bank (EIB) on Thursday met chairman and managing director (CMD), Indian Renewable Energy Development Agency Limited (IREDA) Pradip Kumar Das, at IREDA’s corporate office for collaboration on financing RE and green hydrogen projects.

"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 of India's goal of achieving 50% of its installed energy capacity from non-fossil fuels by the year 2030," Das said commenting on the potential collaboration.
The IREDA CMD 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. It can help to create a faster sustainable future for all, he added.
EIB global director commended IREDA for its impressive growth over the previous three years. She also praised Team IREDA for quickly, effectively, and qualitatively financing the RE projects.
Chintan Shah, director (technical), IREDA, R C Sharma, CFO, IREDA and other senior IREDA and EIB officials also attended the meeting.