India Renewable Energy Development Agency Limited (IREDA)

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Context: Infusion of equity in India Renewable Energy Development Agency Limited (IREDA) approved by Cabinet.

Details:

• Capital infusion of Rs 1,500 crore in India Renewable Energy Development Agency Limited (IREDA) approved by the Union Cabinet.
• The equity infusion aims to:
  • Reduce emission by 7.49 million tonnes of CO2 per year.
  • Generate 10,200 jobs.

India Renewable Energy Development Agency Limited (IREDA):

• IREDA is an enterprise under the Ministry of New and Renewable Energy.
• It was established in 1987 as a Public limited Government Company under the Companies Act, 1956.
• IREDA provides financial support to the renewable energy sector.
• Vision of IREDA is to expand and promote sustainability and affordability in the renewable energy sector in the country."
• IREDA gets “Mini Ratna” status by Ministry of New and Renewable Energy in 2015
• IREDA’s Motto is “Energy for Ever.”

https://www.livemint.com/industry/energy/cabinet-gives-its-approval-for-infusion-of-1-500-cr-in-ireda-11642621517523.html