Secretary of MNRE commended IREDA for reducing net NPA
On January 20, 2023, Shri Bhupinder Singh Bhalla, Secretary, Ministry of New and Renewable Energy (MNRE), paid a visit to the corporate headquarters of IREDA in Bhikaji Cama Place, New Delhi. After reviewing IREDA’s performance and strategic plan, Shri Bhalla led an interactive meeting with all of the company’s staff.
The Secretary of MNRE, Shri Dinesh Jagdale, Joint Secretary of MNRE, and other MNRE officials were welcomed by Shri Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA, who also discussed IREDA’s experience during the last 35 years and future prospects. The Secretary also received feedback on programmes, resource mobilization tactics, and a diversification plan for the organization’s future growth.
Also highlighted were the difficulties the company is having in order to fulfil the enormous demand for finance in the RE sector, for which the Secretary has pledged full support and advice from MNRE. CMD, IREDA, also gave a thorough presentation. Virtual participation was used by all employees, and live participation by department heads was also allowed. Additionally, Secretary, MNRE personally talked with each official and encouraged them to support the sustainable development of the country.
The Secretary of MNRE commended IREDA for being a pioneer in the industry and supporting the RE sector for the previous 35 years during their conversation. He also praised IREDA’s unprecedented success over the past two fiscal years, which was achieved in the midst of the worst economic conditions ever.
Secretary, MNRE commended IREDA for reducing the net NPA from 5.61% to 2.72% in just 1.5 years. He advised IREDA to devise a suitable mechanism for funding Rooftop Solar, PM-KUSUM, and other RE technologies. As part of the Government of India’s goal to have 500 GW of non-fossil fuel capacity by 2030, he also urged IREDA to develop an action plan for financing RE projects in the country.