IREDA holds 11th stakeholders Interaction Meet

IREDA holds 11th stakeholders Interaction Meet

New Delhi: The 11th edition of IREDA Stakeholders' Interaction Meet was held today through a virtual platform to discuss new initiatives, future plans and seek feedback from business partners. The Stakeholder’s Meet was chaired by Shri Pradip Kumar Das, Chairman & Managing Director (CMD), Indian Renewable Energy Development Agency Ltd. (IREDA).

The Stakeholders Meet started with a brief presentation on the historical financial performance of IREDA in the first quarter of FY 2022–23, recent amendments to existing financial schemes, and the company's long-term growth plans.

In his opening remarks, CMD, IREDA, emphasised that IREDA has already implemented many of the suggestions given in the previous Stakeholders Meet. These include:

• Introduction of concept of Relationship officer

• Reduction in LoC charges

• Improvement in D/E ratio on account of increased project costs

• Support to E-Mobility

• Document execution at Branch offices

• Retain lower interest rates

• SHP schemes to be made more attractive & comparable to other sectors

CMD, IREDA made an appeal to business partners to assist IREDA to fulfil the Hon'ble Prime Minister's vision of sustainable lifestyles and climate justice to protect the poor and vulnerable from the adverse impacts of climate change. IREDA is dedicated to actively supporting efforts to achieve 50% cumulative power installed capacity from non-fossil fuel-based energy resources by 2030 and reaching net-zero by 2070. 

Shri Das reaffirmed that IREDA is making every effort to take care of all the segments of RE sector, including start-ups, to the greatest extent possible. The company will continue to work with its business partners following "Zero-Tolerance" policy towards corruption and the highest standards of Corporate Governance.

The bulk of the business partners expressed their gratitude to IREDA for rapidly addressing their issues and providing financial support at retaining lowest interest rates, despite hikes in repo rate by RBI. 

The business partners came up with a variety of ideas and suggestions during the interaction. At the conclusion of the Stakeholders Meet, business partners were praised for their active participation and helpful suggestions.