• Indian Renewable Energy Development Agency Ltd. IREDA has been conferred with “Green Urja Award” for being the Leading Public Institution in Financing Institution for Renewable Energy this year by Indian Chamber of Commerce (ICC).
• Indian Renewable Energy Development Agency Limited (IREDA) is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE).
• IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987.
• IREDA has been notified as a “Public Financial Institution” under section 4 ‘A’ of the Companies Act, 1956 and registered as Non-Banking Financial Company (NFBC) with Reserve Bank of India (RBI). IREDA’s Motto is “Energy for Ever.”
• IREDA is the only dedicated institution for financing Renewable Energy (RE) and Energy Efficiency (EE) projects in India. Since, its inception the company has played a catalytic role in developing market for financing RE and EE projects.
• IREDA has over the years sanctioned loans aggregating to Rs. 96,601 crores, disbursed Rs. 63,492 cores and supported more than 17,586 MW of RE capacity in the country till date.
Mains Paper 3: Economy
Prelims level: Green Urja Award
Mains level: Initiatives regarding promotion of green energy and resources