IREDA—Green Power House
In 2015, the Government of India ramped up its target for solar energy five-fold – from 20 GW to 100 GW. Of this, 40 GW is to be added under the solar park scheme.
FINANCING GREEN PROJECTS
IREDA increased its financing of green energy projects considerably in 2016-17, crossing the milestone of Rs 10,000 crore in a single year for the first time. IREDA provided loans of Rs 10,200 crore through 2016-17 for 112 clean energy projects across solar, wind, small hydro and biogas. In the coming year, IREDA has plans to finance similar projects to the tune of Rs 12,500-13,000 crore. IREDA nearly doubled its support for solar projects to Rs 4,785.87 crore in 2016-17 from Rs 2,684.68 crore in 2015-16, but its financing of wind projects dropped slightly to Rs 2,511.69 crore from Rs 2,735.51crore.