In his opening remarks, Shri Das highlighted IREDA’s remarkable achievements in Q3 of FY 2024-25, emphasizing commitment to ease of doing business and providing low-cost funds to Renewable Energy developers. He reiterated IREDA’s dedication to reducing borrowing costs to benefit project developers, ensuring sustained business performance and growth over the past four and a half years.

Shri Das also underscored IREDA’s focus on maintaining the highest standards of corporate governance, transparency, and discipline. Notably, IREDA became the first corporate in India to publish its Q3 full audited financial results in just nine days. He urged stakeholders to prioritize compliance, timely reporting, and dues clearance to sustain asset quality and strengthen IREDA’s credit rating.

Borrowers from across the RE sectors shared valuable suggestions and feedback, which will play a pivotal role in shaping IREDA’s initiatives and strategies. Dr. Bijay Kumar Mohanty, Director (Finance), and other senior IREDA officials also participated in the meeting.

Business partners congratulated IREDA for achieving ‘Excellent’ rating for the fourth consecutive year, strong Q3 results, and their swift resolution of issues, highlighting IREDA’s commitment to excellence and stakeholder support.

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Shri Das emphasized IREDA’s untiring commitment to renewable energy financing. He highlighted IREDA’s leadership in driving market innovations, by offering first-to-market support for Green Ammonia, and Pumped Storage Hydropower projects as well as de-centralized generation projects under Solar Rooftop and PM KUSUM.

Highlighting expansion efforts, Shri Das mentioned the provisional registration of IREDA’s wholly owned subsidiary at GIFT City, aimed at promoting Green Hydrogen and renewable energy equipment manufacturing through foreign currency financing. He also shared details about the in-principle approval received to establish a retail subsidiary. This subsidiary will focus on handling retail business under the PM-Suryaghar (Rooftop Solar) and PM-KUSUM schemes, as well as emerging B2C segments in renewable energy, including electric vehicles, energy storage, green technologies, and energy efficiency.

As per provisional Q3 figures, Shri Das underlined IREDA’s stellar performance, surging 129% Y-o-Y to ₹31,087 crore and disbursements up 41% to ₹17,236 crore. The outstanding loan book grew 36%, reaching ₹69,000 crore. Cumulatively, IREDA has sanctioned over ₹2.39 Lakh Crore and disbursed more than ₹1.52 Lakh Crore.

Shri Das also recapped IREDA’s key milestones from the past year, including attaining Navratna status, receiving an international sovereign-equivalent BBB-(Stable) rating from S&P Global, and maintaining domestic AAA ratings. He noted IREDA’s record-setting publication of FY23-24 financial results in just 19 days and hosting India’s earliest AGM on June 24, 2024. Additionally, IREDA has been recognized as one of the Top 5 Wealth Creators in India for the period November 2023 to November 2024, securing the prestigious 2nd position by the leading Business Newspapers. Notably, it is the only public sector enterprise on this top 5 wealth creators list.

CMD, IREDA expressed his gratitude to Shri Pralhad Joshi, Hon’ble Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shri Shripad Naik, Hon’ble Minister of State for Power and New & Renewable Energy; Shri Prashant Kumar Singh, Secretary, MNRE; other senior officials of the ministry; and the Board of Directors for their support and invaluable guidance.

Concluding his address, Shri Das praised the employees for their commitment and dedication, urging them to continue driving innovation and excellence in India’s green energy mission.  He also extended his appreciation to the family members of IREDA employees, acknowledging their crucial role in supporting the workforce behind the company’s success. Celebrating IREDA’s remarkable achievements and landmark contributions in 2024, he wished all employees a Happy New Year and encouraged them to strive for even greater accomplishments in 2025.

The post CMD, IREDA Vision for 2025: Market Innovations, Retail Renewable Push and Global Expansion appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The office which is designed to operate in a completely paperless manner, has been inaugurated by IREDA ,CMD, Shri Pradip Kumar Das recently.

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