CMD IREDA addresses Seminar on “National Bioenergy Programme”

New Delhi: Shri Pradip Kumar Das, Chairman & Managing Director (CMD), Indian Renewable Energy Development Agency Limited (IREDA), delivered a keynote address, today, at a Seminar on “National Bioenergy Programme”. The seminar was organized by Ministry of New and Renewable Energy (MNRE) in collaboration with Global Environment Facility (GEF) and The United Nations Industrial Development Organization (UNIDO) under the project “Organic Waste Streams for Industrial Renewable Energy Applications in India”. 

The inaugural session was chaired by Shri R.K.Singh, Hon’ble Minister, Power and New and Renewable Energy, Shri Bhupinder Singh Bhalla, Secretary, MNRE, Ms. Vini Mahajan, Secretary, Department of Drinking Water and Sanitation (DDWS) and Shri Dinesh Dayanand Jagdale with eminent speakers from MNRE and UNIDO. The compendium of the National Bioenergy Programme along with Biogas & Bio-Urja portal were also launched during the programme.  The seminar was organized to discuss and deliberate on the challenges, opportunities & initiatives in the bioenergy sector .

In his address, CMD, IREDA, highlighted that IREDA has been maintaining its leadership position as a mother organization in Renewable Energy space for past 35 years and is continuously developing financial products to meet market requirements. The company has ended FY 2021-22 with its best-ever performance till date. IREDA has achieved the highest-ever loan sanctions of Rs. 23921.06 crores (an increase of 117% over FY 2020–21) and loan disbursements of Rs. 16070.82 crores (an increase of 82% over FY 2020–21). IREDA has a cumulative loan sanction of around 1.33 Lakh Cr. ending 31.10.2022 out of which a loan amount of ~6492 Cr. has been sanctioned to bioenergy / co-gen / WtE sectors. Further, IREDA has effected cumulative disbursements of more than 83000 Cr, out of which a loan amount of ~4097 Cr. has been disbursed against bioenergy / co-gen / WtE sectors.

While achieving the historic targets, IREDA has ensured continuous improvement of human capital through highest level of employee care and satisfaction. He added, the above sanction and disbursement targets are achieved in conjunction with digitization, transparency, accountability, etc. to ensure speedy RE development in the country. 

IREDA is committed to best quality corporate governance practices in conducting business in a legal, ethical and fair manner. The qualitative Corporate Governance can enable both qualitative and quantitative improvements in stakeholders’ value, which is ultimate objective of Corporate Governance, which IREDA achieved best ever value creation for stakeholders in the worst ever business scenario due to Covid pandemic in the last two years.  

IREDA has significantly improved the "ease of doing business" in terms of faceless loan sanctions and disbursements, reduction in loan sanction, documentation and disbursement cycle and increased geographical footprint in the country, added CMD, IREDA. 
He further said that India will easily achieve the target of 50% share of energy from non-fossil fuels and also the 500 GW Renewable Energy capacity before the deadline of 2030 set by the Hon’ble Prime Minister, Shri Narendra Modi. Shri Piyush Arora, Manager, IREDA delivered a talk on IREDA’s role and functioning and gave a presentation on “Financing of Biomass/ Waste to Energy Project”, where Director Technical and other officers of IREDA were present.

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