Decades of Dedication to Renewable Development
Pradip Kumar Das, Chairman of the Indian Renewable Energy Development Agency Ltd. (IREDA), highlights the organization’s pivotal role in shaping India’s renewable energy landscape over its 36-year history.
Financial Impetus and Growth Forecasts
IREDA, a pioneer in renewable financing for 30 years, sees the manufacturing of solar components as a burgeoning market, projecting a substantial four to fivefold growth in the next 4-5 years. Anticipated opportunities include initiatives like PM Kusum and rooftop solar with a business size of approximately Rs 1 lakh crore.
Stock Surge Reflects Public Interest in Green Investments
IREDA’s shares experienced a remarkable 10% surge, hitting Rs 112 apiece, demonstrating a strong post-listing rally. The government-owned green energy financier’s stock has soared over 200% from its initial public offering price of Rs 32 per share, reflecting a heightened demand for public sector stocks and investor confidence in the renewable energy sector.
IREDA’s Commitment to Quality Governance and Future Aspirations
Chairman Das emphasizes IREDA’s commitment to providing top-tier corporate governance, digitization, and a conducive business environment. The government is contemplating granting IREDA ‘Navratna’ status, showcasing its recognition of the company’s contributions and potential impact on India’s sustainable future.
Source：bloombergquint.com
