IREDA CMD highlights stellar performance and future goals in New Year address

New Delhi: Indian Renewable Energy Development Agency Ltd's (IREDA) Chairman and Managing Director (CMD) Pradip Kumar Das, addressed employees on New Year’s Day via video conferencing, outlining the organisation’s remarkable achievements in 2024 and strategic goals for 2025.

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In his address, Das emphasized IREDA’s leadership in renewable energy financing, particularly its pioneering support for Green Ammonia, Pumped Storage Hydropower projects, and decentralized solar initiatives under Solar Rooftop and PM KUSUM schemes. He also unveiled plans for growth, including the registration of a wholly owned subsidiary at GIFT City to promote Green Hydrogen and renewable energy equipment manufacturing through foreign currency financing.

Further, Das announced in-principle approval for a retail subsidiary to expand into B2C renewable energy markets, including electric vehicles, energy storage, and green technologies, alongside PM-Suryaghar and PM-KUSUM schemes.

IREDA’s financial performance in Q3 FY 2024-25 was highlighted, with sanctions surging 129 percent year-on-year to Rs 31,087 crore and disbursements up by 41 percent to Rs 17,236 crore. The outstanding loan book grew 36 percent to Rs 69,000 crore, underscoring IREDA’s robust growth trajectory.

Key milestones in 2024 included attaining Navratna status, a BBB-(Stable) international rating from S&P Global, and recognition as one of India’s top five wealth creators by leading business newspapers.

Das thanked the Ministry of New & Renewable Energy, senior officials, and employees for their contributions to IREDA’s success. He extended his New Year wishes, encouraging the workforce to continue driving innovation in India’s green energy mission.

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