IREDA, a leading player in India’s renewable energy landscape, is set for a major transformation with plans to establish a dedicated Retail Subsidiary. This move, unveiled by Chairman and Managing Director Shri Pradip Kumar Das, aims to tap into the burgeoning B2C (Business-to-Consumer) segment, encompassing Rooftop Solar, PM-KUSUM, Electric Vehicles, and more.
CMD Das emphasized IREDA’s commitment to enhancing the bankability of Rooftop Solar projects, especially in light of the recently announced “PM Surya Ghar Muft Bijli Yojana”. The Retail Subsidiary is seen as a key driver in making rooftop solar solutions more accessible and attractive to individual consumers.
While Rooftop Solar takes the spotlight, the Retail Subsidiary’s ambitions extend further. Shri Das highlighted IREDA’s dedication to making diverse renewable technologies “bankable” – Electric Vehicles, Green Hydrogen, and even Offshore Wind. This signifies a comprehensive approach to supporting India’s transition to a clean energy future.
IREDA’s remarkable progress in reducing Non-Performing Assets (NPAs) over the past three years was also highlighted. This improved financial health paves the way for new ventures like the Retail Subsidiary. Looking ahead, Shri Das acknowledged the crucial role of Micro, Small, and Medium Enterprises (MSMEs) in environmental sustainability. The Retail Subsidiary is expected to cater to their needs, facilitating easier access to finance for renewable energy projects.
