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IPO-bound IREDA eyes emerging RE bets
The Morning Standard
|November 20, 2023
INDIAN Renewable Energy development agency Limited, a public sector undertaking under the ministry of new and renewable energy (MNRE), hopes to increase its lending business in the emerging renewable energy sources such as green hydrogen and electric mobility.
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The company thinks it is essential for the energy transition and the higher risk will yield higher returns.
Speaking to TNIE, Pradip Kumar Das, Managing Director of IREDA said that there is a huge demand for the emerging renewable sources. Future energy will be coming from existing and newer renewables, and it is not possible to transition into greener energy without that.
The lending portfolio of the newer sources than conventional renewables will be increased to 50% from 18% at present, Das said. However, he didn't mention a specific timeline.
This story is from the November 20, 2023 edition of The Morning Standard.
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