IREDA Plans Initial Public Offering

Indian Renewable Energy Development Agency (IREDA) participated in the three-day "Intersolar Europe 2023" exhibition held in Munich, Germany from 14th to 16thJune, 2023. IREDA, a Mini Ratna (Category – I) Government of India enterprise under the administrative control of Ministry of New and Renewable Energy, had set up a pavilion at the exhibition to educate visitors about the organization. Visitors to the pavilion had the opportunity to learn about IREDA's initiatives in financing renewable energy projects, promoting energy efficiency, and supporting the growth of renewable energy sector in India. The pavilion also served as a platform for networking and exploring potential business opportunities with IREDA, especially at the crucial time of energy transition and Initial Public Offering (IPO) plan of IREDA.

The pavilion was inaugurated by CMD, IREDA, Pradip Kumar Das. Speaking about the participation of IREDA at the exhibition the CMD said: "Intersolar Europe provided a valuable opportunity for IREDA to showcase our accomplishments and expertise in Renewable Energy Financing domain. We are happy to have been a part of this esteemed exhibition. It allowed us to engage with global stakeholders to foster collaborations, exchange ideas, and drive the transition towards a greener and more sustainable future."

At the exhibition, team IREDA held meeting with KfW Development Bank to review the progress of the current line of credit, technical assistance and discussed potential future collaborations to support new and emerging renewable energy technologies. A meeting was held also with Commerz Bank, Germany to explore collaborative opportunities and advancing partnerships.

IREDA officials also visited RCT GMbH at Konstanz, and a brief presentation was made by them on their global operations. RCT GMbH is the technology provider for Indosol Solar Manufacturing project, and the two sides discussed the technology, milestones, and capital and operating expenditures for the project.

IREDA's participation in “Intersolar Europe 2023” highlights its commitment to contributing to the global renewable energy landscape and fostering sustainable development practices. Through collaborative efforts and innovative solutions, IREDA continues to play a pivotal role in India's journey towards achieving its Renewable Energy goals and addressing the challenge of climate change.