Bhubaneswar: Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Ltd. (IREDA), Pradip Kumar Das is a visionary Corporate Honcho, who always thinks ‘out of box’
Latest move of the IREDA Chief is Theory of ‘DAS’ Principle, which is appreciated in the Corporate Sector in a big way.
Shri Das, CMD IREDA said his organization is following ‘DAS’ principle and contentiously contributing to India’s ambitious target of achieving 500 GW of non-fossil energy by 2030.
He was speaking in a panel discussion on Renewable Energy here recently.
CMD IREDA emphasized the importance of adopting the ‘DAS’ principle- Discipline of investors, Attitude of lenders, and Simplification of policies by the central-state governments and regulatory bodies like RBI and SEBI, etc.
Shri 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.
He said IREDA has played a pioneering role in making emerging renewable energy technologies like Ethanol, Electric Mobilities, Battery Storage, Pumped Storage, Floating Solar, Green Hydrogen, and Green Ammonia, etc. bankable.
The Chairman further said that IREDA aims to facilitate foreign-currency loans for export-oriented developers through its subsidiary, IREDA Global Green Energy Finance IFSC Limited, at GIFT City, Gujarat.
These loans will help developers save 250-350 basis points on hedging costs, making green hydrogen and related derivatives more competitive in global markets.
The IREDA CMD 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 on February 13, 2024.