Bhagwanth Khuba assures constant support to IREDA in funding renewable energy projects – EQ Mag Pro

Union minister of state for renewable energy Bhagwanth Khuba on Monday said his ministry will ensure constant support to government-owned non-bank finance company IREDA in funding clean energy projects across the country.

According to an official statement, Khuba reviewed the performance and the future roadmap of the IREDA (Indian Renewable Energy Development Agency) which has been engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy.

Khuba visited IREDA’s office at India Habitat Centre in New Delhi on Monday and interacted with senior officials of the company.

”Considering the Hon’ble Prime Minister’s target of 50 per cent of energy from non-fossil fuels and also the 500 GW Renewable Energy (RE) capacity by 2030, the minister assured IREDA for constant support by ministry of new & renewable energy’s in meeting the RE sector’s financing needs,” it stated. The challenges being faced by the company to meet the huge demand for funding for the RE sector were also discussed. A detailed presentation was also made by CMD, IREDA, the statement said.

IREDA has also initiated the process of its upgradation from being a ‘Mini-Ratna’ to ‘Navratna’ public sector unit.

The minister assured IREDA that the ministry will speed up the process considering the company’s plan to launch its Initial Public Offering (IPO).

Source :PTI