Joshi reviews IREDA's performance, emphasizes expansion in renewable energy financing

New Delhi: The Union Minister of New and Renewable Energy; Consumer Affairs; Food and Public Distribution, Pralhad Joshi, on Friday visited the Indian Renewable Energy Development Agency Limited (IREDA) at its Registered Office in India Habitat Centre, New Delhi. During the visit, the Minister reviewed IREDA's performance and strategic roadmap for the future, followed by an interactive session with senior officials.

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IREDA Chairman & Managing Director (CMD) Pradip Kumar Das welcomed Joshi and the Ministry of New and Renewable Energy's (MNRE) Secretary Bhupinder Singh Bhalla along with other senior officials. In the review meeting, Das highlighted IREDA’s significant achievements over the past four years and outlined the company’s plans to contribute towards the Government of India's ambitious target of generating 500 GW of non-fossil-based electricity by 2030, aligning with the 'Viksit Bharat' vision. IREDA's Director (Finance) Bijay Kumar Mohanty and other senior officials were also present.

Joshi commended IREDA for its pioneering role in the renewable energy sector and its remarkable growth over the last four years. He urged the agency to expand its financing in Rooftop Solar, PM Surya Ghar Initiative, PM-KUSUM Scheme, and other smaller renewable energy projects to connect the public, farmers, and small-scale industries with green energy solutions. He also encouraged the IREDA team to maintain the company's rapid growth trajectory.

The discussions during the visit covered key topics, including IREDA's sectoral financing, diversification strategies, future growth, and fundraising plans. Joshi was briefed on key initiatives undertaken in the past four years, especially in areas such as ease of doing business, digitalisation, automation, the establishment of a Retail Division, and the incorporation of a wholly owned subsidiary at the International Financial Services Centre (IFSC) in GIFT City, Gujarat. The challenges IREDA faces in meeting the growing demand for funding in the renewable energy sector were also discussed.

CMD Pradip Kumar Das presented IREDA’s strategic roadmap to transition from a 'Navratna' to a 'Maharatna' Central Public Sector Enterprise (CPSE) by 2030. He also detailed the company’s major fundraising efforts through mechanisms like FPO, QIP, or other permissible modes, with plans to raise approximately Rs. 4,500 crores to strengthen its operations and support the rapid growth of the green energy sector.

In addition to the review meeting, Pralhad Joshi participated in the #एक_पेड़_मां_के_नाम (#Plant4Mother) campaign by planting a sapling at the India Habitat Centre, symbolizing his commitment to environmental sustainability.

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