IREDA CMD emphasizes cost-effective financing of RE projects

Shri Pradip Kumar Das, Chairman and Managing Director, Indian Renewable Energy Development Agency Ltd. (IREDA), participated in a panel discussion on ‘Accelerating Onshore Wind Energy Deployment in India’ on the occasion of World Wind Day – Pawan-Urja: Powering the Future India. The event was hosted by the Ministry of New and Renewable Energy at Lalit, New Delhi today.

During the discussion, Shri Das provided valuable insights on India’s energy transformation journey and highlighted the key role of IREDA in supporting renewable energy adoption in the country through innovative financial products such as project-specific financing for EPC companies, manufacturers, suppliers, warranty assistance programs, including Letter of Recommendation and Bespoke Payment Facilities that provide project developers with a one-stop solution to reduce overall project completion time.

He further highlighted the contribution of IREDA as the country’s largest pure Green Financing NBFC, providing cost-effective financing to the entire value chain related to installation and development of RE projects.

Shri Das highlighted IREDA’s all-time efforts towards overall reduction in financing costs through faster approval of financial instruments and timely disbursements, leading to earlier commissioning of RE projects and automatic reduction in financing costs due to reduction in IDC and early revenue flows.

Highlighting IREDA’s best corporate governance practices, the CMD highlighted the exemplary reduction in net NPA from 7.18% to just 0.99% in the last four years. He encouraged participants from the renewable energy industry to ensure the highest quality of corporate governance in processes and procedures to ensure optimal risk mitigation in the development of renewable energy in India.

Shri Das reaffirmed IREDA’s commitment to sustainable corporate governance, transparency and accountability by introducing innovative solutions that have already proven to be a benchmark for IREDA in the financial sector for the overall growth of renewable energy and wind energy in the country.