IREDA's GIFT City office to boost Green Hydrogen Projects

Indian Renewable Energy Development Agency Ltd. (IREDA) has launched an office in GIFT City, Gandhinagar, specializing in providing debt options in foreign currencies. This move aims to facilitate natural hedging, reducing financing costs for Green Hydrogen and Renewable Energy Manufacturing projects.

IREDA's Chairperson & Managing Director, Shri Pradip Kumar Das, highlighted this strategic initiative during a panel discussion on "Future Growth Opportunities for Long Duration Energy Storage" at the World Future Energy Summit 2024 in Abu Dhabi on April 17, 2024. He emphasized the critical role of energy storage in achieving the National Green Hydrogen Mission's target of producing over 5 million metric tons per annum (MTPA) of Hydrogen by 2030.

Das outlined key priorities for advancing storage technologies, including enhancing research and development efforts to reduce costs and improve performance. He also stressed the importance of strengthening the supply chain network and offering competitive financial solutions to encourage investment in energy storage projects.