“As a prime mover, IREDA has shown the way to peers”
The Indian Renewable Energy Development Agency (IREDA) is a non-banking financial institution headed by its CMD, Mr K S Popli. Overall,
Renewable power is environmentally sustainable and contributes towards ‘Energy Access’ under decentralized mode. The present Government is committed to provide
24 X 7 “power for all” by 2019 and to meet the challenges, RENEWABLE ENERGY is the best bet, keeping in view that “India lives in villages”. We are building for the future.
The vision, going ahead…
The Government has set ambitious targets of having 175 GW of installed capacity of renewable sources of power by 2022. This includes 100 GW of solar, 60GW of wind, 10 GW of biomass, and 5GW of small hydroelectric projects. The Government is working on mission mode and has been taking several policy and legislative initiatives to boost the sector. As a result of such initiatives, Solar power cumulative installed capacity has reached to 12.3 GW (As on March, 2017). The last year also witnessed biggest ever solar power capacity addition of 5.5GW. Solar parks have attracted huge interest from global investors and have been a success story in India. 34 solar parks in 22 states with aggregate capacity of 2 GW have been approved till date.President of India, Mr Pranab Mukherjee presenting the SCOPE Award to Mr K S Popli, CMD, IREDA. Mr Anant G. Geete, Union Minister of Heavy Industries and Public Enterprises, and Mr Babul Supriyo, Minister of State for Heavy Industries and Public Enterprises also seen in picture
During FY 2016-17, wind power capacity addition was 5.5 GW, which is highest ever wind power capacity addition in the country during a single year.
In a recent solar bidding in Madhya Pradesh for 200 MW Projects, the lowest tariff ofRs. 2.44 per unit has been discovered, which is a great signal that renewables, especially solar is becoming cost competitive.
New initiatives under CMD’s leadership…
IREDA has always been the prime mover and showing the way to its peers. As part of its business operations to meet growth aspirations, IREDA has been constantly developing new instruments / innovative products for the renewable energy sector. IREDA has been successfully offering most attractive terms for financing renewable energy projects and acting as a trend setter for other FIs and banks to follow suit.