New Delhi: The Indian Renewable Energy Development Agency Ltd. (IREDA) held its 21st Stakeholders’ Interaction Meet virtually on Thursday. Chairman and Managing Director (CMD) Pradip Kumar Das highlighted asset quality and good governance as the foundational pillars of IREDA’s growth strategy during his address to borrowers and stakeholders from across the renewable energy sector.
Focus on Asset Quality and Governance
CMD Das stressed that maintaining strong asset quality coupled with qualitative governance is central to IREDA’s long-term vision. He reinforced the agency’s commitment to these principles as critical to sustaining its role in driving India’s renewable energy ambitions.
GST Reduction to Boost Renewable Energy Projects
Welcoming the recent decision by the GST Council to reduce Goods and Services Tax on renewable energy components from 12% to 5%, Das noted that this move will significantly lower project costs. He said the reduction will make clean energy more affordable for households, industries, farmers, and developers, further accelerating the adoption of renewable power across the country.
Organizational Strengthening and Governance Enhancements
In a bid to enhance leadership capacity and operational efficiency, IREDA has recently appointed nearly 80 domain experts and professionals. The agency has also established specialized divisions, including the Entity Appraisal Division, Stressed Assets Management Division, and Monitoring Division. These units are tasked with improving governance, asset monitoring, and appraisal, thereby strengthening overall oversight mechanisms.
Financial Performance and Stakeholder Engagement
The meeting included presentations on IREDA’s financial performance, fundraising activities, and an Action Taken Report based on suggestions from the previous stakeholder interaction. Several borrower-driven changes in financing norms have already been implemented, reflecting IREDA’s responsiveness to the sector’s evolving needs.
Borrowers expressed appreciation for IREDA’s proactive approach and offered new recommendations, reinforcing the agency’s position as a pivotal player in India’s transition to sustainable energy.
About IREDA
Indian Renewable Energy Development Agency Ltd. (IREDA) is a Mini-Ratna (Category – I) Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). It plays a crucial role in financing and promoting renewable energy and energy efficiency projects across India.
