Cabinet approves infusion of Rs.1,500 crore in IREDA
Tags: National News
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister, Shri Narendra Modi, approved the equity infusion of Rs.1500 crore in the Indian Renewable Energy Development Agency Limited (IREDA).
- 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.
The additional equity infusion of 1500 Crore will enable IREDA
- To provide additional Renewable Energy (RE) financing, thus contributing better to the Government of India targets for RE.
- To facilitate the debt requirement of RE of additional capacity of approximately 3500-4000 MW
It is a Mini Ratna (Category-1) company under the administrative control of the Ministry of New and Renewable Energy(MNRE) was set up in 1987 to work as a specialized non-banking finance agency for the Renewable Energy (RE) sector.
IREDA with more than 34 years of techno-commercial expertise, plays a catalytic role in the RE project financing which gives confidence to the FIs/banks to lend in the sector.
For more details on Mini Ratna see the post on 15th January 2022.
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