IREDA engages with stakeholders, discusses future plans for renewable energy sector development – EQ Mag
New Delhi: Indian Renewable Energy Development Agency (IREDA) held its 13th Stakeholders‘ Interaction meet on Friday, with the aim of discussing new initiatives, future plans, and taking feedback from esteemed business partners.
The meet was chaired by Pradip Kumar Das, CMD, IREDA, and took place through a virtual platform, enabling broad participation.
During the meeting, IREDA presented its historic financial results, recent achievements, major initiatives undertaken for renewable energy sector development, and the effective implementation of suggestions received during previous interaction meets.
The presentation emphasized future plans aligned with the ambitious targets set by the Government of India for the growth of the RE sector. Stakeholders also had the opportunity to directly engage with CMD and Team IREDA during an interactive session.
In his opening remarks, CMD IREDA, reiterated the organization’s commitment to supporting borrowers by providing loans at competitive rates, despite the recent repo rate hike by the Reserve Bank of India.
He also highlighted IREDA’s credit rating upgradation by ICRA, elevating its ratings to ‘AAA’ (Outlook: Stable) from ‘AA+’ (Outlook: Positive), and ‘Infrastructure Finance Company (IFC)’ status granted to IREDA by RBI. This upgrade positions IREDA to secure funds at lower interest rates, with the resultant cost savings to be directly passed on to borrowers.
Das urged stakeholders to continue providing their valuable feedback, recognizing the contribution received from previous interaction meetings. These inputs have played a crucial role in enhancing the “Ease of Doing Business,” streamlining processes through digital platforms, and reducing loan sanction, documentation, and disbursement cycles.
The stakeholders expressed their appreciation for IREDA’s exceptional achievement of becoming the first public sector undertaking (PSU) to publish its Annual Audited Financial Results within an impressive 25-day timeframe, surpassing SEBI’s mandated 60-day deadline.
They also recognized IREDA’s commitment for providing competitive interest rates and handholding support reflecting its understanding of the needs and aspirations of its stakeholders.