New Delhi: India is projected to require 8.5 million jobs in the renewable energy sector by 2050, contributing significantly to the global demand of 43 million jobs in the field, according to Pradip Kumar Das, Chairman and Managing Director of the Indian Renewable Energy Development Agency Ltd. (IREDA). Speaking at the 39th Indian Engineering Congress held in Kolkata, Das emphasized the growing necessity for skilled manpower to support the nation’s green energy transition.

Currently, India ranks fourth globally in renewable energy employment, with approximately one million jobs out of the 16 million available worldwide. Das underlined the importance of a diverse and competent workforce, comprising engineers, skilled laborers, semi-skilled workers, and administrative personnel. To address this, he proposed a comprehensive five-pronged strategy, including skill mapping, focused training programs, job matching, awareness campaigns, and global talent exchange initiatives.

As part of India’s commitment to achieving its Nationally Determined Contributions (NDC) under the Paris Agreement, the country is set to undergo a massive green energy transformation. This transition is expected to require an estimated ₹30 lakh crore in investments between FY 2024 and FY 2030. Das noted that IREDA has already played a pivotal role in this effort by disbursing ₹1.36 lakh crore and sanctioning ₹2.08 lakh crore for renewable energy projects to date.

IREDA has been at the forefront of financing innovative and emerging renewable energy technologies. The agency has introduced first-to-market financial products tailored for projects such as ethanol production, electric vehicle fleets, pumped storage hydropower, and green ammonia development. These efforts are aligned with IREDA’s objective of contributing 10-15% of India’s renewable energy debt financing.

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Das also stressed the dual importance of financial resources and a well-trained workforce in achieving India’s renewable energy targets. He highlighted the critical role of IREDA in facilitating this growth by enabling green energy investments and fostering skill development.

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