New Delhi: The Ministry of New & Renewable Energy (MNRE) Secretary Nidhi Khare (IAS) visited the Corporate Office of Indian Renewable Energy Development Agency Limited (IREDA) in New Delhi on Thursday. She was warmly welcomed by IREDA CMD Pradip Kumar Das and Director (Finance) Dr Bijay Kumar Mohanty followed by a comprehensive review meeting and interactive session with senior officials.
CMD presented an impressive overview of IREDA’s progress- highlighting 27 percent CAGR growth in the loan book, 51 percent CAGR growth in Profit After Tax, supported by notable rises in Loan sanctions and disbursements over the last five years. The discussion emphasized IREDA’s pivotal role in achieving the national target of 500 GW non-fossil fuel capacity by 2030 and the broader vision of ‘Viksit Bharat.’ MNRE's Joint Secretary JVN Subramanyam also participated in the discussions, along with other senior officers of the Ministry.
IREDA’s efforts to reduce borrowing costs while improving Net Interest Margin, without adding pressure on renewable energy developers, were also underlined. Notably, IREDA recently became the first NBFC and PSU to publish its audited financial results for FY 2024-25 within just 15 days of the fiscal year ending.
MNRE's Secretary appreciated IREDA’s impressive performance and reaffirmed MNRE’s continued support in accelerating India’s renewable energy growth and decarbonization goals.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)