Cabinet approves infusion of 1,500 crore in Indian Renewable Energy Development Agency Limited (IREDA)

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....abinet approves infusion of 1,500 crore in Indian Renewable Energy Development Agency Limited (IREDA) <br>News and Press Release<br>Dated:- 19-1-2022<br><BR>Cabinet approves infusion of &#8377; 1,500 crore in Indian Renewable Energy Development Agency Limited (IREDA) Employment generation of approximately 10200 jobs-year and CO2 equivalent emission reduction of approximately 7.49 Million Tonnes C....

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....O2/year The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, Shri Narendra Modi, today approved the equity infusion of &#8377; 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. A....

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....dditional equity infusion of &#8377; 1500 crore by Government of India will enable IREDA: (i) To lend &#8377; 12000 crore approximately to the RE sector, thus facilitate the debt requirement of RE of additional capacity of approximately 3500-4000 MW. (ii) To enhance its networth which will help it in additional RE financing, thus contributing better to the Government of India targets for RE. ....

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.... (iii) To improve the capital-to-risk weighted assets ratio (CRAR) to facilitate its lending and borrowing operations. IREDA, a mini ratna (Category-1) company under the administrative control of MNRE 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 t....

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....he RE project financing which gives confidence to the FIs/banks to lend in the sector.<BR> News - Press release - PIB....