MNRE Secretary Nidhi Khare applauds IREDA’s strong financial performance

Pradip Kumar Das, CMD of IREDA presented an impressive overview of the agency’s remarkable progress, highlighting a 27 percent compound annual growth rate (CAGR) in its loan book and a 51 percent CAGR in Profit After Tax over the last five years.

Nidhi Khare, Secretary of the Ministry of New & Renewable Energy (MNRE), visited the Corporate Office of Indian Renewable Energy Development Agency Ltd. (IREDA) in New Delhi, where she was warmly received by CMD Pradip Kumar Das and Director (Finance) Dr. Bijay Kumar Mohanty. The visit included a comprehensive review meeting and an interactive session with senior officials.

CMD Das presented an impressive overview of IREDA’s remarkable progress, highlighting a 27 percent compound annual growth rate (CAGR) in its loan book and a 51 percent CAGR in Profit After Tax over the last five years. The discussion also emphasised the notable increase in loan sanctions and disbursements during the same period, reflecting growing influence of IREDA in the renewable energy finance sector.

The agency’s strategic initiatives to lower borrowing costs while enhancing Net Interest Margin without burdening renewable energy developers were also underlined. Notably, IREDA recently set a benchmark by becoming the first NBFC and PSU to publish its audited financial results for FY 2024-25 within just 15 days of the fiscal year’s end.

J.V.N. Subramanyam, Joint Secretary, MNRE, along with other senior ministry officials also participated in the discussions. The meeting highlighted pivotal role of IREDA in contributing to India’s ambitious target of achieving 500 GW of non-fossil fuel capacity by 2030, aligning with the national vision of ‘Viksit Bharat’. Secretary Khare commended stellar performance of the organisation and reaffirmed continued support of the ministry in accelerating renewable energy transition and decarbonisation efforts in India.