IREDA Ltd.

In this edition of Renewable Snapshot, discover India's exceptional journey to achieving its Paris climate goals nine years ahead of schedule. As a leader in the G-20, India's progress showcases its commitment to a cleaner, sustainable world. its commitment to a sustainable, greener future. #RenewableSnapshot #SustainableIndia #ClimateLeadership #GreenEnergyGoals #G20ClimateAction #ParisAgreement #SustainabilityInAction #CleanEnergyIndia #RenewableFuture #SustainableFuture #RenewableEnergy #EnergyForEver #IREDA Ministry of New and Renewable Energy (MNRE)

On the concluding day of the 4th Global Renewable Energy Investment Meet & Expo (RE-INVEST), we were honored to welcome Shri Jagdeep Dhankar, the Hon’ble Vice President of India to the IREDA pavilion. Shri Pradip Kumar Das, CMD, IREDA, briefed him on IREDA’s significant activities and initiatives in renewable energy financing. Organized by the Ministry of New and Renewable Energy (MNRE), in collaboration with IREDA and CII, RE-INVEST 2024 took place from 16-18 September at Mahatma Mandir, Gandhinagar, Gujarat, under the theme of “Invest, Innovate and Inspire.” The event was inaugurated by Shri Narendra Modi, the Hon’ble Prime Minister of India on 16th September 2024. Ministry of New and Renewable Energy (MNRE) #REINVEST2024024 #RenewableEnergy #RenewableFinancing #GreenEnergy #GreenFinancing #RenewableInnovations #CleanEnergy #SustainableFuture #Sustainability #EnergyForEver #IREDA

𝐈𝐑𝐄𝐃𝐀 𝐭𝐨 𝐑𝐚𝐢𝐬𝐞 𝐀𝐩𝐩𝐫𝐨𝐱. ₹𝟒𝟓𝟎𝟎 𝐂𝐫𝐨𝐫𝐞 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐅𝐫𝐞𝐬𝐡 𝐄𝐪𝐮𝐢𝐭𝐲 𝐈𝐬𝐬𝐮𝐞; 𝐆𝐨𝐯𝐭 𝐒𝐡𝐚𝐫𝐞𝐡𝐨𝐥𝐝𝐢𝐧𝐠 𝐭𝐨 𝐛𝐞 𝐃𝐢𝐥𝐮𝐭𝐞𝐝 𝐯𝐢𝐚 𝐐𝐈𝐏 Indian Renewable Energy Development Agency Limited (IREDA) today received approval from the Department of Investment and Public Asset Management (DIPAM) for raising approximately ₹4500 crore through fresh equity issue. The approval was granted by DIPAM based on the recommendations of a High-Level Committee. The fund-raising will be carried out through the Qualified Institutions Placement (QIP) route, with a planned dilution of the Government of India’s shareholding in IREDA by up to 7% on a post-issue basis, to be executed in one or more tranches. The fund-raising exercise aims to strengthen IREDA’s capital base, enabling the organization to scale its financing for renewable energy projects and further accelerate India’s transition to clean energy. Commenting on this approval, Shri Pradip Kumar Das, CMD, IREDA, said, “DIPAM approval represents a critical step forward in our expansion plans. With fresh capital infusion, we will be better positioned to support India’s ambitious renewable energy goals and continue playing a pivotal role in financing clean energy projects across the country.” Ministry of New and Renewable Energy (MNRE)

𝐑𝐄-𝐈𝐍𝐕𝐄𝐒𝐓 𝟐𝟎𝟐𝟒: 𝐂𝐌𝐃, 𝐈𝐑𝐄𝐃𝐀 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐆𝐫𝐞𝐞𝐧 𝐓𝐚𝐱𝐨𝐧𝐨𝐦𝐲 𝐢𝐧 𝐃𝐫𝐢𝐯𝐢𝐧𝐠 𝐂𝐥𝐢𝐦𝐚𝐭𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠 Shri Pradip Kumar Das, Chairman & Managing Director, Indian Renewable Energy Development Agency Limited (IREDA), highlighted the critical need for a robust "Green Taxonomy" framework during a panel discussion at the 4th Global Renewable Energy Investors Meet & Expo (RE-Invest) at Mahatma Mandir, Gandhinagar. Speaking on "Green Taxonomy & Climate Financing," Shri Das emphasized that defining renewable energy technologies as "green" is essential to build investor confidence and ensure climate finance flows to genuine green projects. “By clearly defining ‘green,’ India can align with global standards and avoid misallocation of funds,” he said. Shri Das proposed that India’s Green Taxonomy cover the entire renewable energy value chain- from manufacturing electrolyzers, solar PV modules, and EV batteries to renewable energy generation, smart grids, and equipment recycling. He noted that this framework would significantly boost investor confidence in India’s growing renewable energy sector. CMD further elaborated on the role of IREDA's wholly owned subsidiary in GIFT City. By raising and disbursing funds in foreign currency, IREDA’s subsidiary will provide significant cost savings in hedging for export-oriented manufacturers, particularly in sectors such as green hydrogen, renewable energy component manufacturing, and captive projects. He emphasized the importance of the "DAS" principle for the rapid advancement and financial viability of renewable energy projects. The "DAS" principle stands for Discipline of investors, Attitude of lenders, and Simplification of policies by central-state governments, CEA etc., as well as regulatory bodies like RBI and SEBI. Shri Das pointed out that by adopting this principle, IREDA has realigned its processes to align with the nation’s goal of achieving 500 GW of non-fossil energy by 2030. This realignment by the company has led to significant improvements and Hockey Stick approach growth over the past four years. Shri Das also underlined IREDA’s request to the Government of India for inclusion in the list of companies eligible to raise funds through bonds under Section 54EC of the Income Tax Act, aiming to further reduce borrowing costs for renewable energy developers. The panel discussion also included Mr. Deepak Agrawala, Senior Executive Vice President, Avaada Group; Mr. Kailash Vaswani, Group CFO, ReNew; Mr. Pritesh Vinay, CFO, JSW Energy; Mr. Jitendra Singh, Head of Engineering & Technology, Acme; and Ms. Kumi Kitamori, Deputy Director Environment, OECD. Mr. Umang Shah, Managing Director and Partner of Boston Consulting Group, moderated the session. Ministry of New and Renewable Energy (MNRE)

𝐈𝐑𝐄𝐃𝐀 𝐑𝐞𝐜𝐞𝐢𝐯𝐞𝐬 𝐑𝐞𝐜𝐨𝐠𝐧𝐢𝐭𝐢𝐨𝐧 𝐟𝐨𝐫 𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐈𝐧𝐝𝐢𝐚'𝐬 𝐑𝐞𝐧𝐞𝐰𝐚𝐛𝐥𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠 𝐚𝐭 𝐑𝐄-𝐈𝐍𝐕𝐄𝐒𝐓 𝟐𝟎𝟐𝟒 Indian Renewable Energy Development Agency Ltd. (IREDA) was honored by the Ministry of New & Renewable Energy at RE-INVEST 2024 for its significant contribution to India’s achievement of the 200 GW non-fossil installed capacity milestone, as the largest NBFC in the sector. Shri Pradip Kumar Das, CMD, IREDA, received the recognition today from Shri Pralhad Joshi, Union Minister for New and Renewable Energy, Consumer Affairs, Food and Public Distribution, in the presence of the Chief Ministers of Andhra Pradesh, Madhya Pradesh, Rajasthan, Chhattisgarh and Goa. As of 30th June 2024, IREDA has sanctioned loans worth ₹1,99,673 crore (cumulative) and disbursed ₹1,31,243 crore (cumulative) for renewable energy projects. In the financial year 2023-24, IREDA sanctioned ₹37,354 crore and disbursed ₹25,089 crore loans. #REInvest2024 #RenewableEnergy #RenewableFinancing #GreenEnergy #GreenFinancing #RenewableInnovations #CleanEnergy #SustainableFuture #Sustainability #EnergyForEver #IREDA Ministry of New and Renewable Energy (MNRE)

𝐏𝐫𝐢𝐦𝐞 𝐌𝐢𝐧𝐢𝐬𝐭𝐞𝐫 𝐒𝐡𝐫𝐢 𝐍𝐚𝐫𝐞𝐧𝐝𝐫𝐚 𝐌𝐨𝐝𝐢 𝐕𝐢𝐬𝐢𝐭𝐬 𝐈𝐑𝐄𝐃𝐀 𝐏𝐚𝐯𝐢𝐥𝐢𝐨𝐧 𝐚𝐭 𝐑𝐄-𝐈𝐍𝐕𝐄𝐒𝐓 The Hon’ble Prime Minister of India, Shri Narendra Modi, today visited the Indian Renewable Energy Development Agency Limited (IREDA) pavilion at the 4th Global Renewable Energy Investor’s Meet and Expo (RE-INVEST) at Mahatma Mandir, Gandhinagar, Gujarat. Shri Pradip Kumar Das, Chairman and Managing Director (CMD) of IREDA, welcomed the Prime Minister and provided an overview of IREDA’s 37-year journey as the nation's leading green financing NBFC. Shri Das shared IREDA's vision to lead sustainable development, connect people with green energy, and help achieve the country’s renewable energy targets. Shri Modi was accompanied by Shri Pralhad Joshi, Union Minister for New and Renewable Energy, Consumer Affairs, Food and Public Distribution; Shri Acharya Devvrat, Hon'ble Governor of Gujarat; Shri Bhupendra Patel, Chief Minister of Gujarat; and Shri Bhupinder Singh Bhalla, Secretary, MNRE and other dignitaries. The dignitaries commended IREDA for its pivotal role in financing India’s green transition and supporting the Government of India's 500 GW non-fossil fuel installed capacity target by 2030. The IREDA pavilion, themed "Responsible for Renewables," showcased the company’s commitment to sustainable development and its strategic focus on financing renewable energy projects aligned with country's Panchamrit targets for 2030 and the Viksit Bharat 2047 vision. CMD Shri Pradip Kumar Das expressed his honour to welcome the Hon’ble Prime Minister, reaffirming IREDA’s dedication to financing renewable energy expansion and contributing to the nation’s target of 500 GW by 2030 and net-zero emissions by 2070. He emphasized IREDA’s leadership in driving India’s green energy revolution and fostering a self-reliant, sustainable future for all. Ministry of New and Renewable Energy (MNRE) #REINVEST2024 #REINVEST #Gujarat #RenewableEnergy #MNRE

Sharing a glimpse of the IREDA Pavilion at the 2nd International Conference on Green Hydrogen at Bharat Mandapam, New Delhi organized by Ministry of New and Renewable Energy. From sustainable energy solutions to cutting-edge advancements, IREDA is shaping the future of green energy. #GreenEnergy #GreenHydrogen #RenewableEnergy #SustainableFuture #EnergyTransition #ICGH2024 #EnergyforEver #IREDA Ministry of New and Renewable Energy (MNRE) International Conference on Green Hydrogen, India

𝐂𝐌𝐃, 𝐈𝐑𝐄𝐃𝐀 𝐀𝐝𝐯𝐨𝐜𝐚𝐭𝐞𝐬 𝐟𝐨𝐫 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠 𝐭𝐨 𝐁𝐫𝐢𝐝𝐠𝐞 𝐆𝐫𝐞𝐞𝐧 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐂𝐨𝐬𝐭 𝐆𝐚𝐩 Shri Pradip Kumar Das, Chairman & Managing Director of Indian Renewable Energy Development Agency Limited (IREDA), today participated in a panel discussion on “Financing Green Hydrogen: Bridging the Cost Gap” at the 2nd International Conference on Green Hydrogen held at Bharat Mandapam. Emphasizing the need to make green hydrogen projects cost-competitive and bankable, Shri Das underscored IREDA’s commitment to driving down project costs through innovative financing solutions, aligning green hydrogen with established renewable technologies like solar, wind, and hydro. IREDA is already making significant strides in this direction, having recently financed its first green ammonia project, marking its entry into the green hydrogen domain, Also, IREDA aims to facilitate foreign-currency loans for export-oriented developers through its subsidiary at GIFT City, Gujarat. These loans will help developers save 250-350 basis points on hedging costs, making green hydrogen and related derivatives more attractive for global markets. The International Financial Services Centre Authority (IFSCA) has recently granted provisional registration to IREDA Global Green Energy Finance IFSC Limited (a wholly owned subsidiary of IREDA) as a finance company at GIFT City. IREDA is also working on an in-house, standardized credit appraisal model. This model is designed to capture the risks associated with green hydrogen projects more accurately, integrating these risks into interest rates. Such financing interventions are expected to bring down project costs and enhance the overall bankability of green hydrogen ventures. Shri Das highlighted the importance of building holistic solutions to tackle the challenges of creating a green hydrogen financing ecosystem. This includes developing robust testing facilities for electrolyser manufacturers, establishing central agencies to test plant designs, and implementing standardized offtake agreements to mitigate risks and ensure long-term project sustainability. The panel also comprised distinguished industry leaders and experts, including Mr. V K Dewangan, CMD, REC; Mr. Ranjit Gupta, Chief Executive Officer, Ocior; Mr. Tarun Shankar, Senior Investment Professional, International Finance Corporation; Mr. Nishaanth Balashanmugam, Country Manager - India, Green Hydrogen Organisation; Mr. Moez Cherif, India Energy Lead, The World Bank; Mr. K Mukundan, Senior Principal - Strategic Initiatives and Policy Advisory, National Investment and Infrastructure Fund; and Mr. Hitesh Sachdeva, Partner, KPMG, as moderator. #GreenEnergy #GreenHydrogen #RenewableEnergy #SustainableFuture #EnergyTransition #ICGH2024 #EnergyforEver #IREDA Ministry of New and Renewable Energy (MNRE)

As part of the 2nd International Conference on Green Hydrogen organized under the aegis of the Ministry of New and Renewable Energy, Shri Pradip Kumar Das, CMD, IREDA is honored to be a part of an insightful panel discussion on ‘Financing Green Hydrogen: Bridging the Cost Gap.’ #GreenHydrogen #EnergyforEver #SustainableFinance #RenewableEnergy #IREDA #EnergyTransition #GreenFuture #CleanEnergy #HydrogenEconomy #SustainableDevelopment Ministry of New and Renewable Energy (MNRE) International Conference on Green Hydrogen, India

At IREDA, we are honored to partner with the prestigious International Conference on Green Hydrogen (ICGH 2024), organized under the aegis of the Ministry of New and Renewable Energy. This conference serves as a critical platform for industry leaders to collaborate and share insights on the latest advancements in green hydrogen technology. Together, we are driving innovation and shaping the future of sustainable energy, helping India transition towards a cleaner, greener future. YouTube Link: https://lnkd.in/gpnvvbjm #GreenHydrogen #ICGH24 #SustainableEnergy #EnergyForEver #IREDA Ministry of New and Renewable Energy (MNRE) International Conference on Green Hydrogen, India