IREDA holds Strategic Meet, outlines plans for Business Expansion and Cost Reduction – EQ
In Short : The Indian Renewable Energy Development Agency (IREDA) held a Strategic Meet where it outlined plans for business expansion and cost reduction. This suggests a commitment to enhancing renewable energy initiatives, possibly involving increased investments, project development, and efficiency measures to contribute to India’s sustainable energy goals.
In Detail : Indian Renewable Energy Development Agency Limited (IREDA), in partnership with its knowledge partner Boston Consulting Group (BCG), convened a Strategic Meeting in Gurugram today, February 2, 2024, focusing on key aspects of business expansion and initiatives aimed at cost reduction in fund utilization.
The Strategy Team of IREDA presented their initiatives, incorporating a comprehensive report on Key Performance Indicators (KPIs) and proposed IT-based enhancements aimed at improving overall efficiency and user experience. Deliberations included discussions on the anticipated Gross Non-Performing Assets, accompanied by the formulation of a robust recovery action plan to ensure financial stability amid potential challenges.
The strategic meet extensively covered the retail sector and outlined the proposed IREDA strategy for retail growth among other things. A central theme of the discussions was the implementation of initiatives to reduce the Cost of Funds. The leadership team conducted a thorough review of domestic and foreign lines, exploring strategies for optimizing bond-raising to address excess liquidity.
Inaugurating the Strategic Meeting, Chairman and Managing Director (CMD) of IREDA Shri Pradip Kumar Das expressed confidence in the organization’s trajectory towards robust progress. He emphasized that the meeting reinforces IREDA’s commitment to achieving targets while maintaining financial stability. “Today’s deliberations underscore our constant dedication not only to meet but exceed our ambitious targets. I am confident that our strategic actions will not only shape the future of IREDA but also significantly contribute to the advancement of a sustainable and dynamic renewable energy landscape in the country.”
The meet concluded with a firm commitment from IREDA to continue in its efforts to promote renewable energy and sustainable development in alignment with the Government of India’s vision and targets.
