IREDA Strengthens Renewable Energy Sector With Policy Reforms And Collaborative Engagement

The Indian Renewable Energy Development Agency Ltd. (IREDA) held its 18th Stakeholders’ Interaction Meet virtually today, led by Shri Pradip Kumar Das, Chairman & Managing Director. The session brought together borrowers from various renewable energy sectors to discuss updates and strengthen collaboration.

In his opening remarks, Shri Das highlighted IREDA’s key achievements in the first half of FY 2024-25. He emphasized efforts to simplify business processes and provide renewable energy developers with access to affordable funding. He also pointed out IREDA’s milestone of publishing its Q2 financial results within just 10 days, setting a benchmark as the first CPSE in the Banking and NBFC sector to do so. Shri Das encouraged stakeholders to focus on compliance, timely reporting, and clearing dues to maintain asset quality and boost IREDA’s credit rating.

IREDA discussed important changes to its financing norms, including updates to rebate structures, simplifications for MSMEs and smaller loans, and the introduction of a new fee structure to make the financing process more efficient. Additionally, an Action Taken Report (ATR) was shared, outlining responses to key suggestions from the previous Stakeholders’ Meet held on 23rd August 2024.

The ATR highlighted steps taken to simplify procedures and enhance communication with borrowers. During the meeting, borrowers from various renewable energy sectors shared valuable suggestions and feedback. These inputs will be crucial in guiding IREDA’s future plans and ensuring that the agency’s initiatives align with the sector’s evolving needs. Dr. Bijay Kumar Mohanty, Director (Finance), along with senior officials from IREDA, also took part in the meeting. The interaction reaffirmed IREDA’s dedication to supporting India’s renewable energy goals and creating a trustworthy and efficient ecosystem for the sector.