Union Minister Pralhad Joshi Reviews IREDA’s Strategic Roadmap And Future Plans

Shri Pralhad Joshi, the Union Minister of New and Renewable Energy, Consumer Affairs, Food, and Public Distribution, visited the Registered Office of the Indian Renewable Energy Development Agency Limited (IREDA) at the India Habitat Centre in New Delhi. During his visit, the Minister reviewed IREDA’s performance and discussed its strategic roadmap for the future, engaging in an interactive session with senior officials.

Shri Pradip Kumar Das, Chairman and Managing Director (CMD) of IREDA, welcomed Shri Joshi, Shri Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy, and other senior officials. In the review meeting, Shri Das highlighted IREDA’s achievements over the past four years and outlined the company’s plans to contribute to the Government of India’s goal of generating 500 GW of non-fossil-based electricity by 2030. Dr. Bijay Kumar Mohanty, Director (Finance), and other senior officials also attended the meeting.

Shri Joshi praised IREDA for its pioneering role in the renewable energy sector since its inception and its significant growth over the last four years. He encouraged IREDA to expand its financing in rooftop solar projects, the PM Surya Ghar Initiative, the PM-KUSUM scheme, and other smaller renewable energy projects. These initiatives aim to connect the public, farmers, and small-scale industries with green energy solutions. He also urged IREDA to sustain its rapid growth and continue contributing to India’s renewable energy goals.

During the discussions, several key topics were covered, including IREDA’s sectoral financing, diversification strategies, future growth, and fundraising plans. Shri Joshi was briefed on IREDA’s key initiatives over the past four years, particularly in areas such as Ease of Doing Business, digitalization, automation, the establishment of a Retail Division, and the incorporation of a wholly owned subsidiary at the International Financial Services Centre (IFSC) in GIFT City, Gujarat. The challenges faced by IREDA in meeting the growing demand for funding in the renewable energy sector were also discussed.

CMD Shri Das presented IREDA’s strategic roadmap to transition from a ‘Navratna’ to a ‘Maharatna’ Central Public Sector Enterprise (CPSE) by 2030. He highlighted the company’s major fundraising efforts through a Follow-on Public Offer (FPO), Qualified Institutional Placement (QIP), or other permissible modes, aiming to raise approximately Rs. 4,500 crores to strengthen its operations and support the speedy growth of the green energy sector.

To mark the occasion, Shri Pralhad Joshi participated in the #एकपेड़मांकेनाम (#Plant4Mother) campaign by planting a sapling at the India Habitat Centre, symbolizing his commitment to environmental sustainability and the promotion of green initiatives.