Indian Renewable Energy Development Agency Ltd. (IREDA) conducted its 18th Stakeholders’ Interaction Meet virtually, chaired by Pradip Kumar Das, Chairman and Managing Director. The meeting convened borrowers and stakeholders from various renewable energy (RE) sectors to discuss key updates, foster collaboration, and explore innovative financing solutions to propel the sector forward.
In his opening address, Pradip Kumar Das lauded IREDA’s accomplishments in the first half of FY 2024-25. He highlighted the agency’s initiatives to enhance the ease of doing business and improve access to low-cost funding for renewable energy developers. Das underscored IREDA’s achievement as the first Central Public Sector Enterprise (CPSE) in the banking and NBFC sector to publish Q2 financial results within just 10 days, setting a benchmark for industry efficiency.
Das emphasised the importance of stakeholder cooperation in maintaining compliance, ensuring timely reporting, and clearing dues. These measures, he explained, are crucial for preserving asset quality and strengthening IREDA’s credit rating, thereby supporting the agency’s mission to deliver competitive and reliable financing solutions.
During the meet, IREDA presented updates on amendments to its financing norms, which include:
- Revisions to rebate structures.
- Simplified processes for MSMEs and smaller loans.
- A new fee structure aimed at streamlining the financing process.
Additionally, an Action Taken Report (ATR) was shared, addressing key suggestions raised during the 17th Stakeholders’ Meet held on August 23, 2024. The report outlined measures implemented to simplify processes and enhance communication with borrowers, reflecting IREDA’s commitment to continuous improvement.
The interactive session saw active participation from borrowers across the renewable energy spectrum, who provided valuable feedback and suggestions. These insights are expected to play a pivotal role in shaping IREDA’s future strategies and initiatives, ensuring alignment with the evolving needs of the industry.
Dr Bijay Kumar Mohanty, Director (Finance), along with senior officials of IREDA, also participated in the meeting. The discussions reaffirmed IREDA’s commitment to achieving India’s ambitious renewable energy targets by fostering an ecosystem of trust, efficiency, and innovation.
The 18th Stakeholders’ Interaction Meet underscored IREDA’s role as a catalyst for growth in the renewable energy sector, reaffirming its dedication to driving sustainable energy development and competitive financing solutions in India.
