New Delhi (Staff Correspondent): Nidhi Khare, Secretary, Ministry of New & Renewable Energy (MNRE), visited the Corporate Office of Indian Renewable Energy Development Agency Ltd. (IREDA) in New Delhi. She was warmly welcomed by Pradip Kumar Das, CMD, IREDA, and Dr. Bijay Kumar Mohanty, Director (Finance), followed by a comprehensive review meeting and interactive session with senior officials.
CMD presented an impressive overview of IREDA’s progress- highlighting 27% CAGR growth in the loan book, 51% CAGR growth in Profit After Tax, supported by notable rises in Loan sanctions and disbursements over the last five years. The discussion emphasized IREDA’s pivotal role in achieving the national target of 500 GW non-fossil fuel capacity by 2030 and the broader vision of ‘Viksit Bharat’. J.V.N. Subramanyam, Joint Secretary, MNRE, also participated in the discussions, along with other senior officers of the Ministry.
IREDA’s efforts to reduce borrowing costs while improving Net Interest Margin, without adding pressure on renewable energy developers, were also underlined. Notably, IREDA recently became the first NBFC and PSU to publish its audited financial results for FY 2024-25 within just 15 days of the fiscal year ending.
Secretary, MNRE appreciated IREDA’s impressive performance and reaffirmed MNRE’s continued support in accelerating India’s renewable energy growth and decarbonization goals.
