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

New Delhi:19/1/22:The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, Shri Narendra Modi, today 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.

Additional equity infusion of Rs.1500 crore by the Government of India will enable IREDA:

  1. To lend Rs.12000 crore approximately to the RE sector, thus facilitating the debt requirement of RE of additional capacity of approximately 3500-4000 MW.
  2. To enhance its network which will help it in additional RE financing, thus contributing better to the Government of India targets for RE.
  3. 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 the RE project financing which gives confidence to the FIs/banks to lend in the sector.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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