IREDA plans to become Maharatna PSU by financial year 2030: Here is the plan
Notable because
IREDA’s share price has risen dramatically since its IPO only a few months ago in November. Meanwhile, the pipeline of RE projects needing funding in India has scaled up. In FY24, while only 18 GW of RE was added, auctions were conducted for over 40 GW of capacity. IREDA’s reported goals of increasing disbursements by 5x and its loan book by 6x by 2030 can significantly contribute to the USD 200 billion required to achieve India’s 2030 RE target.
What to look out for in the months ahead
The reported 2030 targets for disbursement (INR 1.36 lakh crore) and total loan book (INR 3.5 lakh crore) are of a scale that could require IREDA to look beyond the traditional green segments that dominate its current loan books. What share of emerging segments, such as green hydrogen, will make up IREDA’s disbursals and loan book by 2030?