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IREDA to increase MSME participation in renewable energy by offering more loans

NEW DELHI: The Indian Renewable Energy Development Agency (IREDA) on Friday said it is committed to increasing participation of MSMEs in the green energy sector by offering more loans, its Chairman and Managing Director Pradip Kumar Das said. He was speaking at the MSME Banking Conclave 2022.

Addressing the conclave organised by MSME Business Forum India, Minister of State for Finance Bhagwat Karad lauded the efforts of the IREDA for the overall development of the renewable energy secto ..

He further said he is quite confident that India will easily achieve the target of 50 per cent share of energy from non-fossil fuels and also the 500 GW RE capacity before the deadline of 2030 set by Prime Minister Narendra Modi.

A major barrier for MSME entrepreneurs is the inability to get loans with reasonable interest rates, but the IREDA has significantly improved the ease of doing business in terms of faceless loan sanctions and disbursements, reduction in loan sanction, documenta ..