IREDA's Push for Innovative Financing in Green Hydrogen Projects
Key Ideas
- CMD of IREDA emphasized the importance of innovative financing to enhance the cost competitiveness and bankability of green hydrogen projects.
- IREDA is taking concrete steps such as offering foreign-currency loans to reduce hedging costs for developers and establish a subsidiary at GIFT City, Gujarat.
- The establishment of standardized credit appraisal models, testing facilities for electrolyser manufacturers, and central agencies for plant design evaluation are key strategies to mitigate risks and ensure the sustainability of green hydrogen ventures.
- The panel discussion included industry leaders and experts from various organizations, highlighting the collaborative efforts towards advancing green hydrogen technologies.
Pradip Kumar Das, the Chairman and Managing Director of the Indian Renewable Energy Development Agency Ltd. (IREDA), advocated for innovative financing to drive the cost-effectiveness and bankability of green hydrogen projects at the 2nd International Conference on Green Hydrogen in Bharat Mandapam, Gujarat. He emphasized aligning green hydrogen with established renewable technologies and announced IREDA's initiatives to support this alignment, including financing green ammonia projects and providing foreign-currency loans to developers. Additionally, IREDA aims to improve the credit appraisal process, establish testing facilities, central agencies for design evaluation, and standardize offtake agreements to reduce risks and enhance the attractiveness of green hydrogen in global markets. The panel discussion at the conference, featuring industry leaders and experts, highlighted the collaborative efforts and strategies to advance the green hydrogen sector.
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Asia
Renewable Energy
Sustainability
Investment
Financing
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Industry Leaders
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