IREDA, a Mini Ratna (Category – I) enterprise under the Ministry of New and Renewable Energy, participated in the prestigious three-day “Intersolar Europe 2023” exhibition held in Munich, Germany.
- The inauguration of the pavilion was carried out by CMD, IREDA, Pradip Kumar Das, who expressed the firm’s dedication towards a greener future.
- During the exhibition, IREDA officials attended meetings with KfW Development Bank and Commerz Bank to review current progress and explore partnership opportunities.
- IREDA officials also visited RCT GMbH to discuss the technology, milestones, and costs related to the Indosol Solar Manufacturing project.
- IREDA’s participation highlights their ongoing dedication to the global Renewable Energy landscape and sustainable development practices, contributing towards India’s Renewable Energy goals and climate change challenges.
- The exhibition aimed to educate visitors on IREDA’s initiatives in financing renewable energy projects, promoting energy efficiency, and promoting the growth of renewable energy in India.
- IREDA’s pavilion served as a platform for visitors to network and explore potential business opportunities, particularly during the crucial time of energy transition and IREDA’s Initial Public Offering (IPO) plan.
- IREDA stands for Indian Renewable Energy Development Agency and is a financial institution that is wholly owned by the government of India.
- Established in the year 1987, IREDA primarily focuses on the development and promotion of renewable energy technologies, such as solar, wind, hydro, and biomass.
- The agency provides financial assistance to various renewable energy projects in India, including government and private sectors.
- IREDA’s main objective is to promote, develop, and extend financial assistance for the construction and commissioning of new and renewable sources of energy-based power projects in India.
- The agency also provides financial assistance for research and development in renewable energy technologies, energy conservation, and energy efficiency-related activities.
- Besides its core functions, IREDA also offers technical advisory services, project management, and capacity-building support for renewable energy projects. The agency is one of the major contributors to India’s target of achieving 175 GW of renewable energy capacity by 2022.