Mumbai: The Department of Investment and Public Asset Management (DIPAM), under Government of India, has given its approval to the Indian Renewable Energy Development Agency (IREDA) to establish a wholly-owned retail subsidiary. This subsidiary will handle retail business under PM-Suryaghar (Rooftop Solar) and PM-KUSUM schemes. In addition, it will also be responsible for B2C segments in RE and Emerging RE sectors including EVs, Energy Storage, Green Technologies, Sustainability, Energy Efficiency, etc.
Pradip Kumar Das, Chairman & Managing Director, IREDA, while explaining the significance of this development stated that this new retail subsidiary is an important step in the journey towards fostering sustainable energy solutions at the grassroots level. By extending its expertise in renewable energy finance to the retail market, the company will provide innovative financing options for both urban and rural consumers, promoting sustainable practices and reducing carbon footprints.
This expansion also aligns with the Government of India’s vision to accelerate renewable energy adoption across the nation and create new opportunities in the clean energy sector.
Discussion about this post