The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi approved the equity infusion of Rs.1500 crore in 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.
It will enable IREDA to lend 12 thousand crore rupees to the renewable energy sector.
Indian Renewable Energy Development Agency Limited (IREDA)
IREDA is a mini ratna (Category-1) company under the administrative control of MNRE
It was set up in 1987 to work as a specialised 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 Renewable Energy project financing which gives confidence to the FIs/banks to lend in the sector.
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