At the ongoing Davos summit, the head of the Indian Renewable Energy Development Agency (IREDA), Pradip Kumar Das, said on Wednesday that the robust clean energy ecosystem created by the Indian government over the past decade has become a benchmark for the world
Devendra Fadnavis. Pic/X
Maharashtra Chief Minister Devendra Fadnavis on Thursday confirmed the signing of Memorandums of Understanding with one Indian and one Russian company. The Chief Minister said these collaborations will concentrate on “Small Modular Reactors” to address the state’s growing large-scale power requirements, reported news agency ANI.
First SMR project likely to come up in Maharashtra
Responding to a question on discussions around deploying nuclear energy through smaller clusters, Devendra Fadnavis said, “We have essentially taken the lead on this, and the first project is likely to come up in Maharashtra. This is because we have entered into MoUs with an Indian government-owned company as well as a Russian company,” reported ANI.
SMRs seen as solution for future electricity demand
He further said, “Now, with new advances in the civil use of nuclear energy, we plan to develop Small Modular Reactors (SMRs).” “SMRs are a way to meet the large electricity demands we will face in the near future, particularly when data centres, the circular economy, municipal corporations, the private sector, and financial institutions come together to finance them,” he added, reported ANI.
IREDA highlights India’s clean energy ecosystem at Davos
Meanwhile, at the ongoing Davos summit, the head of the Indian Renewable Energy Development Agency (IREDA), Pradip Kumar Das, said on Wednesday that the robust clean energy ecosystem created by the Indian government over the past decade has become a benchmark for the world. Speaking at the World Economic Forum, he noted that India has built an ideal environment for global companies to invest in green energy projects.
Renewable energy growth attracts global investors
Elaborating on the success of the Indian approach, the Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Ltd. (IREDA), Pradip Kumar Das, said, “We have come here to share details about the ecosystem that the Government of India has developed over the last 10–11 years in particular. The manner in which renewables have expanded in India over the last decade and beyond is an example for global players to learn from the ecosystem created by the Government of India. The CAGR over the last five years stands at 22.5 per cent. Such CAGR growth is rarely seen in any sector. Several foreign investors are investing in India, and IREDA is the leading agency for renewable energy financing in the country. We are the largest pure-play green finance company in India,” reported ANI.
Multiple international MoUs signed for sustainable development
Additionally, an MoU was also signed with Sembcorp Development Ltd., Singapore, to develop sustainable, low-carbon industrial ecosystems across key corridors in Palghar, Raigad, and Kharbav. The Mumbai Metropolitan Region Development Authority (MMRDA) signed an MoU with the Technical University of Munich (TUM), Germany, for advanced mobility engineering, climate-resilient planning, and transit-oriented development, along with Urban Futures Collective, London, and a global academic consortium including MIT Media Lab and University College London, to create open-source digital twins for evidence-based metropolitan governance.
(With inputs from ANI)
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