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On New Year’s Day 2025, Shri Pradip Kumar Das, Chairman and Managing Director of Indian Renewable Energy Development Agency Ltd. (IREDA), addressed all employees via video conferencing. The address was attended by senior officials, including Dr. Bijay Kumar Mohanty, Director (Finance), Shri Ajay Kumar Sahani, Chief Vigilance Officer, and other key figures. In his address, Shri Das emphasized IREDA’s unwavering commitment to renewable energy financing and its leadership in driving market innovations. He highlighted the agency’s pioneering support for projects like Green Ammonia, Pumped Storage Hydropower, and decentralized solar rooftop generation under the PM KUSUM scheme. Shri Das also outlined IREDA’s expansion efforts, revealing the provisional registration of its wholly owned subsidiary at GIFT City. This subsidiary will focus on promoting Green Hydrogen and renewable energy equipment manufacturing through foreign currency financing. Furthermore, he shared that IREDA had received in-principle approval to establish a retail subsidiary, which will handle the retail business under schemes like PM-Suryaghar (Rooftop Solar) and PM-KUSUM, and venture into emerging B2C segments such as electric vehicles, energy storage, green technologies, and energy efficiency. Shri Das also presented IREDA’s stellar financial performance, reporting a 129% year-on-year growth in provisional Q3 figures, totaling ?31,087 crore, with disbursements rising 41% to ?17,236 crore. The outstanding loan book grew 36%, reaching ?69,000 crore. IREDA has cumulatively sanctioned over ?2.39 Lakh Crore and disbursed more than ?1.52 Lakh Crore in renewable energy financing. In reflection of the past year’s success, Shri Das highlighted several key milestones, including IREDA’s attainment of Navratna status, an international BBB-(Stable) rating from S&P Global, and its continued domestic AAA ratings. Additionally, IREDA set a record by publishing its FY23-24 financial results in just 19 days and hosting India’s earliest AGM on June 24, 2024. Notably, IREDA was recognized as one of the Top 5 Wealth Creators in India for the period November 2023 to November 2024, securing second place on the prestigious list. It was also the only public sector enterprise to feature in the top five. Shri Das expressed his gratitude to key stakeholders, including Shri Pralhad Joshi, Hon’ble Union Minister of New & Renewable Energy, and other officials for their invaluable support and guidance. Concluding his address, Shri Das commended the IREDA employees for their commitment and dedication, encouraging them to continue driving innovation and excellence in India’s green energy sector. He also extended his appreciation to the families of IREDA employees, recognizing their crucial role in supporting the company’s success. In celebrating IREDA’s remarkable achievements and contributions throughout 2024, Shri Das wished all employees a Happy New Year and encouraged them to strive for even greater accomplishments in 2025. |
