The Indian Renewable Energy Development Agency Limited (IREDA) organized a Cyclothon event to celebrate its 36 years of existence as a financing organization for the Renewable Energy (RE) sector in India.
Speaking on the occasion, Shri Bhalla complemented IREDA for spearheading the development of Clean and Renewable Energy (RE) in India since last 36 years. He further mentioned that IREDA is the largest RE financing agency amongst all the domestic funding arms. Shri Bhalla congratulated IREDA for organizing the Cyclothon Event, not only from the health perspective, but also promoting the significance of a green energy for a clean environment.
Gracing the occasion, Shri Dinesh Dayanand Jagdale, Joint Secretary, MNRE applauded IREDA over conducting such events from time to time and praised IREDA’s major contribution towards advancing RE development in India.
CMD, IREDA, Shri Pradip Kumar Das stressed upon the fact that IREDA being the largest RE funding agency in the country, stands fully committed towards achieving the Hon’ble Prime Minister’s ‘Panchamrita’ targets and to be an integral part in achievingthe 500 GW of non-fossil fuel-based capacity by 2030.
IREDA has cumulatively sanctioned RE loans amounting to more than Rs. 1.45 Lakh Crores and financed RE loans exceeding Rs. 92,000 Crores as on datewith a loan book size exceeding Rs. 40,000 crores, ensuring Best Corporate Governance practices, which have become benchmark to others.
This has led to IREDA being upgraded to AAA (Outlook: Stable) Rating from the earlier AA (Outlook: Positive) Rating by ICRA due to the complete turnaround in IREDA’s performance in the last three years through best quality governance.
Shri Das added that while this event is an effort towards propagating the importance of clean energy in the society at large, it also shows IREDA’s commitment towards health and fitness of human assets.