IREDA Hosts 16th Stakeholders’ Interaction Meet

New Delhi: The Indian Renewable Energy Development Agency Limited (IREDA) organized its 16th Stakeholders’ Interaction Meet at the India International Centre in New Delhi today, marking a significant milestone in the promotion of renewable energy in India. The event witnessed robust participation from stakeholders across the renewable energy sector, including Solar, Wind, Hydro, Bio Energy, and New & Emerging technologies.

This in-person meeting, the second out of 16, follows 14 successful virtual interaction meets, emphasizing IREDA’s commitment to fostering collaboration and innovation in the renewable energy landscape. The event served as a platform to showcase IREDA’s recent achievements, discuss major initiatives, and outline future plans aligned with the Government of India’s renewable energy targets.

IREDA’s remarkable financial performance in FY 2023-24 took center stage during the meet, with the agency’s Tier-1 Capital reaching an impressive Rs. 8,265.20 crores as of March 31, 2024. This substantial capital base enables IREDA to provide significant financing for renewable energy projects, with the capacity to finance up to Rs. 2,480 crores to a single borrower and Rs. 4,133 crores to a group of borrowers. The agency’s net worth has also witnessed substantial growth, reflecting its financial strength and stability.

Stakeholders lauded IREDA for its streamlined loan sanction process and seamless transactions, highlighting the agency’s commitment to facilitating Ease of Doing Business in the renewable energy sector. The recent attainment of “Navratna” status and the prompt publication of audited financial results within just 19 days further underscored IREDA’s exemplary performance and governance standards.

In his address, Pradip Kumar Das, Chairperson & Managing Director of IREDA, emphasized the agency’s focus on sustainable corporate governance, transparency, and accountability. He reiterated IREDA’s commitment to tailoring financial products to sector requirements and expressed readiness to introduce new products based on stakeholder feedback. Aligning with the Government of India’s vision outlined at COP26, IREDA aims to play a pivotal role in achieving the ambitious target of 500 GW of installed electricity capacity from non-fossil sources by 2030.

The interactive session provided stakeholders with an opportunity to engage directly with the CMD and senior officials of IREDA, facilitating meaningful discussions and collaborations. The event also featured a delightful Hasya Kavi Sammelan, where renowned poets and satirists entertained the audience with moments of joy and laughter.