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

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..... Cabinet approves infusion of ₹ 1,500 crore in Indian Renewable Energy Development Agency Limited (IREDA) - News and Press Release Dated:- 19-1-2022 - News - Cabinet approves infusion of ₹ 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 Milli .....

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..... on Tonnes CO2/year The Cabinet Committee on Economic Affairs, chaired by the Prime Minister, Shri Narendra Modi, today approved the equity infusion of ₹ 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 To .....

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..... nnes CO2/year. Additional equity infusion of ₹ 1500 crore by Government of India will enable IREDA: (i) To lend ₹ 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 In .....

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..... dia targets for RE. (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, p .....

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..... lays a catalytic role in the RE project financing which gives confidence to the FIs/banks to lend in the sector. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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