IREDA, India's state-owned renewable energy financier, has offered to support Bhutan with finance assistance for renewable energy projects. The company's CMD P K Das highlighted the potential of hydro power and rooftop solar in Bhutan, emphasizing the need for competitive debt financing.
New Delhi, Oct 28 (PTI) State-owned IREDA on Monday offered to support Bhutan with finance assistance for renewable energy projects in the neighbouring country.
IREDA can finance large hydro power projects to support Bhutan's clean energy goals, the company's CMD P K Das said at a discussion on 'Access to Financing for Renewable Energy Projects', at the Bhutan-India Renewable Energy Roundtable in Thimphu.
The event, organised by the government of India in collaboration
with the government of Bhutan, provided a platform for fostering renewable energy cooperation between the two nations.
"IREDA stands ready to extend support to Bhutan's renewable energy initiatives within the regulatory framework of the Reserve Bank of India (RBI) and the Ministry of New and Renewable Energy (MNRE)," he said.
He also recommended rooftop solar as a potential development area along with Bhutan's established hydro power capabilities, underscoring that renewable energy projects today require debt financing at competitive rates rather than grants.
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