Cabinet approves infusion of Rs.1,500 crore in Indian Renewable Energy Development Agency Limited (I
- This equity infusion will help in employment generation of approximately 10200 jobs-year and CO2 equivalent emission reduction of approximately 7.49 Million Tonnes CO2/year.
About
- IREDA has been notified as a “Public Financial Institution” under section 4 ‘A’ of the Companies Act, 1956 and registered as Non-Banking Financial Company (NFBC) with Reserve Bank of India (RBI)
- In 2015, it was awarded the status of “Mini Ratna” (Category-I) by the Ministry of New and Renewable Energy (MNRE)
- The organization is committed to providing innovative financing in Renewable Energy & Energy Efficiency/Conservation and Environmental Technologies
- In May 2021, IREDA was conferred with the “Green Urja Award” for being the Leading Public Institution in the Financing Institution for Renewable Energy by the Indian Chamber of Commerce (ICC) for its pivotal role in the development of Green Energy Financing.
Objectives of IREDA
- To provide financial assistance to schemes and projects generating energy or electricity through renewable sources and conserving energy through efficient usage
- Maintaining its position as the leading organization for efficient and effective financing of renewable energy conservation projects
- Promoting means of innovative financing to increase IREDA shares in the energy sector
- Improving the system, process, and resources to increase the efficiency of services
- To strive to be a competitive institution through customer satisfaction