Das articulated the agency’s proactive stance on bankability of Rooftop Solar projects
The Indian Renewable Energy Development Agency Ltd (IREDA) plans to establish a subsidiary to cater to retail projects encompassing Rooftop Solar, PM-KUSUM, Electric Vehicles, and other Business-to-Consumer (B2C) segments.
Indicating this, IREDA Chairman and Managing Director Pradip Kumar Das said IREDA can set up a wholly-owned subsidiary to meet the needs of the Retail segments, subject to the approval of the Government.
He disclosed this during a panel discussion on “Green Financing: Architecture for Accessible Finance”, held in New Delhi on 20 Feb, as part of the “2nd CII India Europe Business & Sustainability Conclave,” organized by CII in partnership with the Ministry of External Affairs.
Das articulated the agency’s proactive stance in enhancing the bankability of Rooftop Solar projects. during his address on “PM Surya Ghar Muft Bijli Yojana”, announced by the Prime Minister Narendra Modi on 13 Feb 2024.
Das stressed IREDA’s commitment to making various Renewable Energy technologies bankable, including emerging ones like Electric Vehicles, Green Hydrogen, and Offshore Wind.
He highlighted IREDA’s success story over the past three years in reducing Non-Performing Assets (NPAs), through addressing borrower concerns and bringing in improved transparency.
The CMD underscored the significant role of Micro, Small, and Medium Enterprises (MSMEs) in environmental sustainability. He reaffirmed IREDA’s dedication to tackling challenges faced by MSMEs and promoting their involvement in the Renewable Energy sector.
He emphasized the importance for MSMEs to improve their ratings and governance, in order to facilitate their access to finance for renewable energy projects, at competitive interest rates. Fiinews.com
