CMD, IREDA vision for 2025: Market innovations, retail renewable push and global expansion
New Delhi: Pradip Kumar Das, Chairman and Managing Director of the Indian Renewable Energy Development Agency Ltd. (IREDA), addressed employees via video conferencing on New Year's Day. Joined by Bijay Kumar Mohanty, Director (Finance); Ajay Kumar Sahani, Chief Vigilance Officer; and other senior officials, Das outlined IREDA’s achievements and ambitious plans for the coming year.
In his speech, Das reaffirmed IREDA's unwavering commitment to renewable energy financing and market leadership. He emphasized the company’s pioneering efforts in supporting Green Ammonia, Pumped Storage Hydropower, and decentralized generation projects under the Solar Rooftop and PM KUSUM schemes.
Das announced significant expansion initiatives, including the provisional registration of a wholly owned subsidiary at GIFT City, aimed at promoting Green Hydrogen and renewable energy equipment manufacturing through foreign currency financing. He also shared details about the in-principle approval for establishing a retail subsidiary. This new arm will focus on the PM-Suryaghar (Rooftop Solar) and PM-KUSUM schemes while catering to emerging B2C segments like electric vehicles, energy storage, and green technologies.
Highlighting IREDA's stellar Q3 performance, Das revealed a 129 per cent year-on-year increase in loan sanctions to Rs 31,087 crore, disbursements up by 41 per cent to Rs 17,236 crore, and a 36 per cent growth in the loan book to Rs 69,000 crore. Cumulatively, the company has sanctioned over Rs 2.39 lakh crore and disbursed more than Rs 1.52 lakh crore.
Reflecting on 2024, Das recounted several milestones, including attaining Navratna status, receiving a BBB-(Stable) international rating from S&P Global, and maintaining domestic AAA ratings. He also celebrated IREDA’s record-setting publication of financial results within 19 days and its early AGM in June 2024. Notably, IREDA was recognized as the second-ranked wealth creator among the Top 5 in India by a leading business publication, the only public sector enterprise to make the list.
