Indian Renewable Energy Development Agency Ltd. (IREDA) is a wholly-owned Government of India enterprise operating under the Ministry of New and Renewable Energy (MNRE). Established in 1995, it holds the distinction of being designated as a public financial institution and is registered with the Reserve Bank of India as a systemically important non-deposit-taking, non-banking finance company with infrastructure finance company status. Recognised for its significant contributions, IREDA was upgraded to Schedule A in the list of central public sector enterprises (CPSES) in 2023 and has held the Mini Ratna (Category I) status since 2015.
IREDA's commendable performance is reflected in its consistent 'excellent' ratings from the MNRE since fiscal 2021. With over 36 years of experience, the company specialises in financing various projects in the renewable energy (RE) sector, including solar, wind, hydro, biomass, waste-to-energy and green mobility, alongside energy efficiency and conservation projects. It also extends financial support to emerging RE technologies like biofuel and green hydrogen.
Offering a diverse range of financial products and services, IREDA provides long-term, medium-term and short-term loans, bridge financing, takeover financing, and loans against future cash flows. Additionally, it offers non-fund-based products such as letters of comfort and guarantee assistance schemes.
This story is from the March 11, 2024 edition of Dalal Street Investment Journal.
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This story is from the March 11, 2024 edition of Dalal Street Investment Journal.
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