The IREDA's 13th stakeholders gathering encouraged discussion on new renewable energy initiatives and prospective plans
The Indian Renewable Energy Development Agency (IREDA) held its 13th stakeholders' interaction meeting, fostering dialogue about fresh projects and future strategies while soliciting input from recognised business partners. The meeting was held online to allow more participation and was presided over by Pradip Kumar Das, CMD of IREDA.
A thorough presentation was given, showing IREDA's historical financial results, recent successes, significant initiatives for the development of the renewable energy sector, and the successful adoption of proposals from prior interaction meetings. Future strategies that are in line with the lofty goals the Indian government set for the development of the RE industry were also emphasised. Then, an interactive session was held to encourage participants to communicate with CMD and Team IREDA directly.
Despite the recent repo rate increase by the Reserve Bank of India, CMD, IREDA emphasised the organisation's continuing commitment to aiding borrowers by offering loans at competitive rates in his introductory remarks. He also referred to IREDA's credit rating upgrade by ICRA, which saw its ratings rise from 'AA+' (Outlook: Positive) to 'AAA' (Outlook: Stable), as well as the designation of 'Infrastructure Finance Company (IFC)' accorded to IREDA by RBI. With the help of this improvement, IREDA will be better positioned to obtain money at lower interest rates, allowing the cost savings to be distributed directly to borrowers.
Das invited all parties involved to keep sharing their insightful input, recognising the crucial contribution from earlier interaction meetings. These contributions have been crucial in improving the "Ease of Doing Business," streamlining procedures through digital platforms, and shortening the cycles for loan sanction, verification, and disbursement.
The stakeholders expressed their gratitude for IREDA's extraordinary accomplishment of becoming the first public sector undertaking (PSU) to disclose its annual audited financial results in 25 days, exceeding SEBI's required 60 days. They also acknowledged IREDA's dedication to provide competitive interest rates and hands-on assistance, demonstrating its comprehension of the requirements and goals of its stakeholders.
The stakeholders' meeting was successful overall and showed IREDA's dedication to encouraging the growth of renewable energy in the nation. IREDA will keep collaborating with its business associates to guarantee a sustainable future for everyone.