India Renewable Energy Development Agency Ltd (IREDA) is planning to launch its Initial Public Offer (IPO) in 3rd quarter in Nov-Dec 2021, said Chairman & Managing Director (CMD), Pradip Kumar Das, IREDA.
He was participating in the panel discussion on “Financing India’s Clean Energy Transition” during 2nd edition of Digital Conference & Exhibition on “Aatmanirbhar Bharat- Self-Reliance for Renewable Energy Manufacturing” organized by the Confederation of Indian Industry (CII).
Speaking on future-plans of the company and RE sector for next five years, Das highlighted that IREDA expects five times growth in its loan book from Rs 28,000 crores (approx.) to Rs 1,35,000 crores (approx.) by FY 2026, with financing to the entire value chain in RE sector.
The company is targeting to achieve its market share more than 40% of RE sector debt funding by NBFCs by FY 2026. Currently, IREDA has market share of financing to the tune of 19% (approx.) of total installed RE capacity in the country.
IREDA is also expecting to receive equity infusion of Rs.1500 Cr by September-October 2021, as a part of budget 2021-22 allocation.
Sharing his views on reforms of distribution sector scheme, CMD, IREDA underlined that the Govt. of India is continuously working to resolve the issues being faced by various State Utilities/ Discoms.
Recently, the Cabinet Committee on Economic Affairs approved the marquee of Rs. 3.03 lakh crores power distribution company (discom) reform scheme, wherein the Govt. of India share will be Rs. 97,631 crores.
Das urged that it the time to grab the opportunity to accelerate the deployment of Renewable Energy to achieve India’s target of reducing carbon emission to 33% in line with the Paris agreement.