Indian Renewable Energy Development Agency (IREDA)

Recently, the Union Cabinet approved the infusion of Rs 1,500 crore in the Indian Renewable Energy Development Agency (IREDA).

·         IREDA is a mini ratna company under the Ministry of New and Renewable Energy (MNRE).

·         It was set up in 1987 as a specialized non-banking finance agency for the renewable energy sector.

·         IREDA plays a key role in the renewable energy project financing which gives confidence to the financial institutions/banks to lend in the sector.

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