New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) commemorated its 39th Foundation Day at its Business Centre in New Delhi, celebrating 38 years of leadership in renewable energy financing. IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das addressed employees virtually, reflecting on IREDA’s achievements and strategic direction.
During his address, Das highlighted IREDA’s recent milestones, including its elevation to ‘Navratna’ status, record-breaking financial performance, and key initiatives in green energy financing. He underscored the company's robust financial growth, reporting a 31 percent year-on-year increase in Profit After Tax to Rs 1,197 crore for the first nine months of FY 2024-25 and a 36 percent expansion in the loan book to Rs 68,960 crore as of December 31, 2024.
Das also noted IREDA’s strong credit ratings, including AAA (Stable) ratings from leading domestic agencies and a sovereign-equivalent BBB- (Stable) international rating from S&P Global. He highlighted the recent shareholder approval for fundraising of up to Rs 5,000 crore via Qualified Institutional Placement (QIP), aimed at enhancing green financing capabilities.
Outlining the company’s future trajectory, CMD discussed IREDA’s global expansion plans, including the registration of its wholly owned subsidiary, IREDA Global Green Energy Finance IFSC Limited, at GIFT City, Gujarat. He also announced plans to establish a retail subsidiary dedicated to the retail renewable energy business. Furthermore, he reaffirmed IREDA’s commitment to operational excellence, citing the company’s ‘Excellent’ rating in the MoU performance for the fourth consecutive year.
Das expressed his gratitude to the Union Minister of New & Renewable Energy Pralhad Joshi; Minister of State for Power and New & Renewable Energy Shripad Naik; MNRE Secretary Nidhi Khare other senior officials of the Ministry; and the Board of Directors for their unwavering support and guidance.
Concluding his address, Das commended the dedication of IREDA employees and urged them to continue driving the company’s mission of accelerating India’s transition to clean energy.
With a strong foundation and a clear strategic roadmap, IREDA remains at the forefront of renewable energy financing, playing a pivotal role in India’s sustainable energy future.
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