IREDA CMD Pradip Kumar Das addressed all employees via video conferencing in the presence of Dr. Bijay Kumar Mohanty, Director (Finance), Ajay Kumar Sahani, Chief Vigilance Officer, and other senior officials on New Year’s Day 2025.
Das talked about IREDA’s leadership in driving market innovations, by providing first-to-market support for green ammonia, pumped storage hydropower projects and de-centralized generation projects under solar rooftop and PM KUSUM.
He mentioned the provisional registration of IREDA’s 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 received to establish a retail subsidiary that will focus on handling retail business under the PM-Suryaghar (rooftop solar) and PM-KUSUM schemes, as well as emerging B2C segments in renewable energy, including electric vehicles, energy storage, green technologies, and energy efficiency.
As per provisional Q3 figures, Das underlined IREDA’s stellar performance, surging 129 percent Y-o-Y to INR 31,087 crore and disbursements up 41 percent to INR 17,236 crore. The outstanding loan book grew 36 percent, reaching INR 69,000 crore. Cumulatively, IREDA has sanctioned over INR 2.39 Lakh Crore and disbursed more than INR 1.52 Lakh Crore.
Das also recapped IREDA’s achievements from the past year, including attaining Navratna status, receiving an international sovereign-equivalent BBB-(Stable) rating from S&P Global, and maintaining domestic AAA ratings. He noted IREDA’s record-setting publication of FY23-24 financial results in just 19 days and hosting India’s earliest AGM on June 24, 2024. Additionally, IREDA has been recognized as one of the Top 5 Wealth Creators in India for the period November 2023 to November 2024, securing the prestigious 2nd position by the leading Business Newspapers. Notably, it is the only public sector enterprise on this top 5 wealth creators list.
IREDA CMD expressed his gratitude to Pralhad Joshi, Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shripad Naik, Hon’ble Minister of State for Power and New & Renewable Energy; Prashant Kumar Singh, Secretary, MNRE; other senior officials of the ministry; and the Board of Directors for their support and invaluable guidance.
Das concludes his address and extended his appreciation to IREDA employees, acknowledging their role in supporting the workforce behind the company’s success. He wished all employees a Happy New Year and encouraged them to strive for even greater accomplishments in 2025.