Union Minister Pralhad Joshi Reviews IREDA’s Strategic Roadmap, Praises Its Role in Renewable Energy Growth

New Delhi: Union Minister of New and Renewable Energy, Consumer Affairs, Food, and Public Distribution, Pralhad Joshi, visited the Indian Renewable Energy Development Agency Limited (IREDA) at its Registered Office in India Habitat Centre today. During the visit, the Minister reviewed IREDA’s performance and discussed its future roadmap for advancing India’s renewable energy ambitions.

Welcoming the Minister, Pradip Kumar Das, Chairman & Managing Director (CMD) of IREDA, along with senior officials including Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy, highlighted IREDA’s achievements over the past four years. CMD Das outlined the agency’s significant contributions toward the Government of India’s goal of generating 500 GW of non-fossil-based electricity by 2030, aligning with the vision of a “Viksit Bharat.”

Praising IREDA for its pioneering role since its inception, Minister Joshi lauded the organization’s growth trajectory, particularly its efforts over the last four years. He urged IREDA to further expand its financing in Rooftop Solar, the PM Surya Ghar Initiative, the PM-KUSUM scheme, and other small-scale renewable energy projects that directly benefit the public, farmers, and small industries. Encouraging the agency to sustain its rapid growth, he emphasized its crucial role in connecting diverse sectors with green energy solutions.

The review meeting delved into key issues, including IREDA’s sectoral financing, diversification strategies, growth projections, and fundraising plans. Minister Joshi was briefed on IREDA’s major initiatives in enhancing the Ease of Doing Business, digitalization, automation, and the establishment of a Retail Division. Additionally, the incorporation of a wholly-owned subsidiary at the International Financial Services Centre (IFSC) in GIFT City, Gujarat, was discussed, as well as the challenges IREDA faces in meeting the rising demand for funding in the renewable energy sector.

CMD Das also presented IREDA’s strategic roadmap aimed at elevating the organization from a Navratna to a Maharatna Central Public Sector Enterprise (CPSE) by 2030. To fuel this growth, IREDA plans to raise approximately ₹4,500 crores through various fundraising efforts, including FPO, QIP, or other permissible modes.

In addition to the review meeting, Minister Joshi actively participated in the #एक_पेड़_मां_के_नाम (#Plant4Mother) campaign, planting a sapling at the India Habitat Centre. This symbolic gesture underscored his commitment to environmental sustainability and support for green initiatives.