In the 17th stakeholders’ meet of the Indian Renewable Energy Development Agency Ltd. (IREDA) on August 23, Chairman and Managing Director (CMD), Pradip Kumar Das, discussed the aim to achieve the national target of 500 GW of installed capacity from fossil fuel by 2030. The virtual meeting chaired by CMD, promoted conversations with the goal of developing the Renewable Energy industry. Senior IREDA executives and Director (Finance) Dr. Bijay Kumar Mohanty also attended the meeting.
In the meeting, a thorough presentation outlining IREDA’s financial results as of June 2024, along with its current commercial endeavours and accomplishments in the field of renewable energy were discussed. Pradip Kumar Das said, “We are consistently working to improve our asset quality and will continue to handhold our customers and business partners as we collectively strive towards achieving the nation’s target of 500 GW of installed electricity capacity from non-fossil fuel by 2030.”
The presentation of the Action Taken Report (ATR) on the principal recommendations from the previous meeting, which took place on May 6, 2024, was also highlighted during the meeting. These recommendations included looking into equity investment or short-term funding for the hydro sector, digitally signing loan paperwork and introducing a Line of Credit to meet working capital requirements.
Furthermore, borrowers from the solar, wind, hydro, bioenergy and emerging technologies sectors engaged in the discussion on issues unique to their respective industries, state policies, among other difficulties. Many customers praised IREDA for its ease of doing business approach, paperless processes and speedy loan sanctions and disbursements. The insights and suggestions shared by the customers during the discussion are expected to greatly help IREDA in supporting the nation’s transition to a green energy future.
“Post-listing of the company, our responsibility extends beyond just our customers; we are equally accountable to our investors,” CMD Das said while thanking IREDA’s business partners for their feedback and suggestions.