Ireda

Ireda sanctions over Rs 3,000 crore for green energy projects in Odisha

The Indian Renewable Energy Development Agency Limited has sanctioned over Rs 3,000 crore for green energy projects across Odisha, covering solar, hydro, ethanol and renewable energy manufacturing sectors, a top IREDA official said here on Monday. Chairman and Managing Director of IREDA, Pradip Kumar Das said this while addressing the Odisha Solar Investor Conclave, organised by GRIDCO and iFOREST (International Forum for Environment Sustainability and Technology) here. Das reaffirmed its commitment to Odisha's ambitious renewable energy target, with the state setting its vision on achieving 10 GW (gigawatt) capacity by 2030. He highlighted IREDA's unique position as a competitive financier with fully paperless, digitized and borrower-friendly operations, fostering seamless support for green energy projects. Das said Odisha has the potential to emerge as a leading solar power producer and a hub for solar equipment manufacturing. Sharing IREDA's national contributions, he noted tha

Samvat 2080 IPO scorecard: Here are the top performers and underachievers

The state-owned Indian Renewable Energy Development Agency (IREDA) also featured prominently, securing the 7th spot with a 526.31 per cent return

IREDA gets DIPAM nod to set up subsidiary for retail, B2B biz in RE segment

State-run IREDA has received approval from DIPAM to set up a wholly-owned subsidiary to undertake retail and B2B business in the renewable energy sector. Indian Renewable Energy Development Agency (IREDA), under the Ministry of new and renewable energy, is a non-banking financial institution. It has received in-principle approval from the Department of Investment and Public Asset Management (DIPAM) to establish a wholly-owned subsidiary to handle retail business under PM-Suryaghar (Rooftop Solar), PM-KUSUM schemes, and other B2C segments in the renewable energy (RE) sector, IREDA said in a statement on Thursday. The subsidiary will also focus on emerging RE sectors, including EVs, energy storage, green technologies, sustainability, energy efficiency, etc. IREDA CMD Pradip Kumar Das said, "By extending our expertise in RE finance to retail market, we will provide innovative financing options for both urban and rural consumers, promoting sustainable practices and reducing carbon ...

IREDA share price up 3% as Q2 profit climbs 36% YoY; details here

The state-owned company, on Thursday, reported a 36 per cent rise in profit after tax, reaching Rs 387.7 crore for the September quarter (Q2FY25), compared to Rs 284.7 crore in Q2FY24

Ireda Q2FY25 results: Net profit grows 36% to Rs 388 cr on higher revenues

State-owned Ireda on Thursday reported a 36 per cent rise in its profit after tax to Rs 387.75 crore in the September quarter on higher revenues. The company had posted a profit after tax (PAT) of Rs 284.73 crore in the July-September period of the preceding 2023-24 fiscal, it said in an exchange filing. Its total revenue from operations rose 38.52 per cent year-on-year to Rs 1,630.38 crore from Rs 1,176.96 crore. Ireda's loan book increased by 35.88 per cent to Rs 64,564.36 crore from Rs 47,514.48 crore in the same quarter a year. Loan sanctions jumped around four-fold to Rs 8,723.78 crore against Rs 2,852.05 crore in the second quarter last fiscal. The company disbursed Rs 4,461.87 crore worth of loans, up 43.93 per cent from Rs 3,099.98 crore in the year-ago quarter. Ireda CMD Pradip Kumar Das said, "Q2 results reflect our unwavering dedication to advancing India's renewable energy goals. The substantial growth in loan sanctions and disbursements underscores the company's ...

Ireda sees 303% surge in loan sanctions, reaching Rs 17,860 cr in Apr-Sept

The company experienced a substantial rise in loan disbursements, which increased by 56 per cent to Rs 9,787 crore, up from Rs 6,273 crore in September 2023

Ireda gets govt approval to raise up to Rs 4,500 crore via QIP route

State-owned Indian Renewable Energy Development Agency (IREDA) said it has received the government's approval to raise up to Rs 4,500 crore through an issue of equity shares to qualified institutions placement. The approval was granted by the Department of Investment and Public Asset Management (DIPAM) based on the recommendations of a high-level committee, a company statement said. According to the statement, the fundraising 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 per cent on a post-issue basis, to be executed in one or more tranches. The fundraising exercise aims to strengthen IREDA's capital base, enabling the organisation to scale its financing for renewable energy projects and further accelerate India's transition to clean energy. "DIPAM approval represents a critical step forward in our expansion plans," Pradip Kumar Das, Chairman and Managing Director o

IREDA share jumps 7% on pacts with SJVN, GMR Energy for project in Nepal

The IREDA scrip surged as much as 7.21 per cent to hit an intraday high of Rs 239.35 per share.

Ireda inks initial pacts with SJVN, GMR for 900 MW hydro project in Nepal

Indian Renewable Energy Development Agency (IREDA) on Monday said it has inked initial pacts with SJVN and GMR Energy for the development and implementation of the 900 MW Upper Karnali hydro-electric project in Nepal. This collaboration aims to enhance regional energy security through the development of renewable energy infrastructure, a statement said. Pradip Kumar Das, Chairman & Managing Director of IREDA, said, Our investment in this important hydropower project underscores IREDA's ongoing commitment to advancing renewable energy initiatives. This collaboration not only accelerates the development of Nepal's hydropower sector but also strengthens regional energy cooperation, supporting our shared goal of sustainable growth. The project holds strategic importance for IREDA, as it will help harness Nepal's vast hydropower potential while reinforcing IREDA's dedication to renewable energy development.

Ireda plans to raise around Rs 29,500 crore in debt, equity in FY25

The Indian Renewable Energy Development Agency (IREDA) plans to raise around Rs 25,000 crore from the debt market and around Rs 4,500 crore through equity in the current fiscal, a top company official said on Monday. The company's chairman and managing director Pradeep Kumar Das also said that IREDA had submitted a draft Green Taxonomy to the Ministry of New & Renewable Energy (MNRE) one and a half years back and that it is at quite an advanced stage. "First, we are seeking the government's approval for allowing natural dilution of their stake down by up to 10 per cent. The government will take a final call on that," Das said during the CII Financing Summit 3.0 here. Stating that the company is confident because the kind of equity requirement it needs and what the sector expects from it, he said, "We have initially estimated Rs 4,500 crore by January-February in order to ensure that we have a fair amount of loan book as well as capital adequacy ratio which is very important." He .

Ireda board OKs fund raising upto Rs 4,500 crore via further public offer

The issue will be done in one or more tranches and is subject to the approval from the Government of India and other statutory/regulatory approvals

IREDA stock price zooms 9% on August 22; up 26% in last 3 months

The rise in the IREDA share price came after the company announced its plans to raise funds worth up to Rs 4,500 crore via FPO, QIP and other means.

Ireda to float FPO of Rs 4,500 crore; firm to take nod in meeting on Aug 29

The only green NBFC had launched its IPO in December 2023, move in line with sector's growth

IREDA hits all time high on robust June quarter earnings; stock zooms 9%

The uptick in stock price came after the company announced a strong set of June quarter results (Q1FY25)

Stocks to watch, July 15: HCLTech, DMart, RVNL, IREDA, Zomato, Lupin

At 6:47 AM, GIFT Nifty futures indicated a major uptick of 91 points at 24,613, suggesting a gap-up start for the bourses

Ireda Q1FY25 results: Net profit surges over 30% to Rs 383.69 crore

Indian Renewable Energy Development Agency (Ireda) on Friday reported over 30 per cent growth in its net profit to Rs 383.69 crore for the June quarter, mainly on the back of higher revenues. "IREDA has achieved Profit After Tax of Rs 383.69 crore (in Q1), marking an impressive year-on-year growth of 30.25 per cent," a company statement said. According to the statement, its net profit was Rs 294.58 crore in the quarter ended on June 30, 2023. As the largest pure-play green financing NBFC in the country, it stated that Ireda achieved a new industry standard by publishing its audited financial results within only 12 days. This milestone also marks Ireda as the first central public sector enterprise (CPSE) to promptly declare results and achieve the fastest publication of audited results in the banking and NBFC space, it added. The company has successfully reduced its net non-performing assets to 0.95 per cent in the first quarter of FY 2024-25 from 1.61 per cent in the same quarter

This PSU stock has surged 97% from June lows; zooms 850% over issue price

Ireda stock hit a new high, crossing the Rs 300-mark for the first time. Ireda stock has surged 23% in two days ahead of Q1 results

Renewables financier Ireda's high valuation may limit further stock upside

Ireda, which provides funding assistance and other services to renewable energy and energy efficiency/conservation projects and is 75 per cent owned by the government of India

IREDA extends rally on heavy volumes; hits record high, soars 15% in 3 days

The stock hit a record high of Rs 218.80, soaring 6.5% in Wednesday's intra-day trade, surpassing its previous high of Rs 215 touched on February 6, 2024.

Ireda loan grows to Rs 9,136 cr in April-June; disbursements rose by 67.6%

Public sector non-banking financial company IREDA on Monday said it posted manifold growth in its sanctioned loan to Rs 9,136 crore during April-June FY25. Loan disbursements also rose 67.61 per cent to Rs 5,320 crore in the period under review from Rs 3,174 crore in the year-ago period. The total loan book outstanding as of June 30, 2024 was at Rs 63,150 crore, up 33.77 per cent over Rs 47,207 crore in April-June FY24, IREDA said in a statement. Pradip Kumar Das, CMD, IREDA, said: "The first quarter underscores our commitment to accelerating the deployment of renewable energy solutions in India. The substantial increase in loan sanctions and disbursements reflects our proactive approach in supporting projects that contribute to India's renewable energy goals." Indian Renewable Energy Development Agency (IREDA), under the Ministry of New and Renewable Energy, has been engaged in promoting, developing and extending financial assistance for setting up projects related to new and ...