IREDA: SETTING NEW BENCHMARKS
Indian Renewable Energy Development Agency (IREDA) is a specialized public sector financial institution dedicated for financing renewable energy (RE) projects in India and has been playing pivotal role in developing renewable energy. IREDA ...
Indian Renewable Energy Development Agency (IREDA) is a specialized public sector financial institution dedicated for financing renewable energy (RE) projects in India and has been playing pivotal role in developing renewable energy. IREDA has been maintaining its leadership position in Renewable Energy space for more than 31 years and developing several innovative financial schemes/solutions for meeting the market requirement from time to time. IREDA has an excellent track record of financing more than 2500 renewable energy projects in the country with cumulative loan sanctions of more than Rs. 67,000 Crores (USD 9.50 billion), supporting green power capacity addition of more than 13,000 MW. IREDA is an IS/ISO 9001:2015 certified company and has also been awarded ISO 27001: 2013 Based Information Security Management System.
During the last three decades, IREDA has evolved & recognized as one of the most important player in financing and development of renewable energy sector in India. The highlights of loan sanctions and disbursements are given in the charts.
Sectors being financed
Over the years, IREDA has introduced several Innovative financing schemes/mechanisms like structured / flexible repayments linking with seasonal generation, longer door-to-door repayment periods of upto 20 years and higher Debt Equity ratio for Solar and Wind Projects, short term loan for implementation of projects, Scheme for discounting of Energy Bills” – to address the issue of delay of payments by DISCOMs and Bridge loan assistance against capital subsidies / VGF, etc. IREDA has been offering most competitive rate of interest for financing RE projects and acting as a trend setter for other FIs and banks.