IREDA's Green Hydrogen Financing Initiatives: Driving Cost Competitiveness and Global Market Appeal
Key Ideas
- IREDA's Chairman emphasizes the importance of making green hydrogen projects cost-competitive and bankable through innovative financing solutions.
- IREDA is venturing into green ammonia projects and offering foreign-currency loans to save developers on hedging costs, aiming to boost global market appeal.
- The establishment of a subsidiary at GIFT City, Gujarat, and a standardized credit appraisal model are part of IREDA's efforts to drive down project costs and enhance bankability.
- Shri Das highlights the need for holistic solutions in creating a green hydrogen financing ecosystem, including robust testing facilities and standardized offtake agreements.
Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, participated in a panel discussion on 'Financing Green Hydrogen' at the 2nd International Conference on Green Hydrogen in Bengaluru. He emphasized IREDA's commitment to driving down project costs through innovative financing solutions, aligning green hydrogen with established renewable technologies. IREDA has financed its first green ammonia project and plans to offer foreign-currency loans for developers through its GIFT City subsidiary, aiming to make green hydrogen more attractive in global markets. The establishment of IREDA Global Green Energy Finance IFSC Limited at GIFT City and a standardized credit appraisal model are steps towards reducing project costs and improving bankability. Shri Das stressed the importance of holistic solutions like testing facilities for electrolyser manufacturers and standardized offtake agreements. The panel also included industry leaders discussing strategies to enhance the green hydrogen financing ecosystem.