IREDA CMD discusses potential avenues for RE collaboration with SBI Chairman

During the discussion, the leaders of both institutions deliberated on various strategies to enhance financial support for green energy projects
IREDA CMD discusses potential avenues for RE collaboration with SBI Chairman
IREDA CMD discusses potential avenues for RE collaboration with SBI Chairman
Published on

New Delhi: In a significant step towards strengthening the renewable energy sector, IREDA CMD Pradip Kumar Das met with SBI Chairman Challa Sreenivasulu Setty in Mumbai on Tuesday. The meeting was aimed at exploring potential avenues for joint initiatives between IREDA and SBI to accelerate the growth of the renewable energy sector in India.

PSU Watch is now on Whatsapp Channels. Click here to join

During the discussion, the leaders of both institutions deliberated on various strategies to enhance financial support for green energy projects. A key focus of the meeting was on potential collaborations and industry-first solutions, particularly around the PM Surya Ghar Muft Bijli Yojana, PM-KUSUM scheme and Green SME lending. The teams from IREDA and SBI will work closely to develop and implement industry-first solutions, which are crucial for expanding green energy access across different segments of the economy.

Das expressed optimism about the prospects of this collaboration, stating, "IREDA can significantly contribute to the Government of India’s target of achieving 500 GW of non-fossil fuel-based installed capacity by 2030 by partnering with leading financial institutions like SBI. Together, we can create innovative financing models that will not only boost the renewable energy sector but also support sustainable development."

The meeting was also attended by IREDA Director (Finance) Dr. Bijay Kumar Mohanty, SBI Deputy Managing Director (Commercial Clients Group) Gulshan Malik along with other senior officials from both institutions.

IREDA CMD discusses potential avenues for RE collaboration with SBI Chairman
IREDA plans to raise around Rs 29,500 crore in debt, equity in FY'25

This meeting is part of IREDA's broader strategy of forming strategic partnerships to mobilize financial resources for India's renewable energy sector. IREDA has already signed MoUs with prominent financial institutions, including Punjab National Bank, Bank of Baroda, Bank of India, Union Bank of India, India Infrastructure Finance Company Limited, Bank of Maharashtra and Indian Overseas Bank, further solidifying its leadership role in the RE sector.

(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.)

logo
PSU Watch
psuwatch.com