New Delhi: The 33rd Annual General Meeting (AGM) of Indian Renewable Energy Development Agency Limited (IREDA) held today at India International Centre in New Delhi. During the AGM IREDA adopted its financial results for the financial year 2019-20 (FY'20).
Addressing the Directors and Shareholders, IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das highlighted the performance of FY 2019-20 and informed that gross income of the company increased to Rs 2,372.38 crore, registering a growth of 17.32 percent. IREDA has sanctioned the loan of Rs 12,696 crore and disbursed Rs 8,785. Loan sanctioned during the year including co-financed projects/ take over loans would support capacity addition of 5,673 MW as against 3,266 MW in last year.
Speaking about future strategies, Das emphasized that the green energy portfolio of the country is consistently growing in terms of both quantity and quality; and is expected to get a further boost with various policy initiatives of the government, such as the PM-KUSUM scheme, Solar & Wind hybrid technologies, Biofuels such as ethanol and compressed bio-gas (CBG), e-mobility and associated infrastructure, off-shore wind energy, solar roof-top program etc.
He further added that IREDA will continue its efforts with various international and multilateral lenders for new lines of credit to meet the resource needs of the Renewable Energy sector. IREDA would also continue its efforts in raising funds from other sources and work towards the creation of various alternative financial instruments.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram. You may follow us on Twitter here and stay updated)