MNRE Secretary Reviews IREDA’s Strategic Roadmap and Commends Achievements in Renewable Energy Development

Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, welcomed Ms. Khare and presented the agency’s achievements over the past five years.

The Union Ministry of New & Renewable Energy (MNRE) Secretary, Ms. Nidhi Khare, conducted a detailed review of the Indian Renewable Energy Development Agency Limited (IREDA) during her visit to its Registered Office in New Delhi today. The visit focused on assessing IREDA's performance, strategic roadmap, and initiatives to support India’s renewable energy ambitions.

Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, welcomed Ms. Khare and presented the agency’s achievements over the past five years. He underscored IREDA’s role in advancing the Government of India’s renewable energy vision, including its target of generating 500 GW of non-fossil-based electricity by 2030 as part of the 'Viksit Bharat' initiative.

During the review, key points were highlighted, including:

1. Sectoral Financing & Diversification: IREDA’s strategic approach to financing diverse renewable energy projects, enabling robust growth in the sector.
2. Ease of Doing Business: Enhanced systems to streamline borrower interactions, reduce approval timelines, and foster confidence in renewable energy investments.
3. Digital Transformation: Implementation of automation and digital platforms to improve operational efficiency.
4. Global Outreach: Establishment of a wholly owned subsidiary at the International Financial Services Centre (IFSC) in GIFT City, Gujarat, to enhance global renewable energy financing.
5. Corporate Governance: IREDA’s adherence to the highest standards of governance, including publishing its Q3 Audited Financial Results within a record 9 days, setting a benchmark for Indian corporates.

Commendation from MNRE Secretary

Ms. Khare commended IREDA for its significant progress and contributions to renewable energy growth. She recognized its pivotal role in advancing the government’s decarbonization goals and ensuring a sustainable energy future for India.

“IREDA’s accomplishments are critical to India’s transition to renewable energy. The agency has demonstrated exemplary leadership in sectoral financing, digitalization, and asset quality improvement. The government stands ready to support IREDA in its mission to propel the nation’s renewable energy sector,” Ms. Khare stated.

Future Plans and Commitments

• Capacity Expansion: Plans to expand financing for emerging technologies such as green hydrogen, offshore wind, and energy storage solutions.
• Increased Investment: Strengthening collaborations with global and domestic stakeholders to attract investments in renewable energy projects.
• Public Outreach: IREDA aims to enhance public awareness of renewable energy benefits through workshops, webinars, and partnerships.

IREDA’s Vision

Shri Das reaffirmed IREDA’s commitment to realizing the government’s renewable energy targets, stating, “Our focus remains on aligning with the vision of a self-reliant and sustainable India. Through innovation, strategic growth, and adherence to governance, we will continue to lead the renewable energy transition.”

With continued government support and its innovative approach, IREDA is poised to play a vital role in achieving India’s renewable energy goals and fostering a greener, more sustainable future.