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In a key leadership engagement, Smt. Nidhi Khare, Secretary, Ministry of New & Renewable Energy (MNRE), recently visited the Corporate Office of Indian Renewable Energy Development Agency Ltd. (IREDA) in New Delhi. She was warmly received by Shri Pradip Kumar Das, Chairman & Managing Director, and Dr. Bijay Kumar Mohanty, Director (Finance), for a comprehensive review meeting and interactive session with senior officials of the agency. During the session, IREDA’s top management presented a detailed overview of the organization’s performance and strategic direction. Over the past five years, IREDA has demonstrated a robust growth trajectory with a 27% Compound Annual Growth Rate (CAGR) in its loan book, and an impressive 51% CAGR in Profit After Tax (PAT). These achievements were underpinned by significant increases in loan sanctions and disbursements, contributing to the renewable energy financing ecosystem in India. The discussions highlighted IREDA’s central role in enabling the country’s clean energy transition, particularly in achieving the national target of 500 GW non-fossil fuel capacity by 2030. The agency’s contributions were acknowledged as critical to realizing the broader vision of ‘Viksit Bharat’, a future-ready, developed India. Also in attendance was Shri J.V.N. Subramanyam, Joint Secretary, MNRE, along with senior ministry officials, who participated in deliberations regarding policy alignment, financial innovation, and institutional strengthening. A key focus of the meeting was IREDA’s strategic move to lower borrowing costs while enhancing its Net Interest Margin (NIM) — a balance achieved without passing additional financial pressure onto renewable energy developers. This approach reinforces IREDA’s commitment to supporting clean energy expansion with financial prudence. Among the notable milestones, IREDA was recognized for becoming the first Non-Banking Financial Company (NBFC) and Public Sector Undertaking (PSU) to publish its audited financial results for FY 2024–25 within just 15 days of the fiscal year’s conclusion — a landmark achievement in governance, transparency, and operational efficiency. Concluding the session, Secretary Khare commended IREDA’s performance, applauding the agency’s contributions to India’s renewable energy objectives. She reaffirmed MNRE’s continued support in further accelerating the country’s decarbonization agenda and fostering a resilient, green economy. |
