GoI approves equity infusion of Rs 15 billion in IREDA

The Cabinet Committee on Economic Affairs under the Government of India (GoI) has approved the equity infusion of Rs15 billion in Indian Renewable Energy Development Agency Limited (IREDA).

This equity infusion will help in emission reduction of about 7.49 million tonnes carbon dioxide per year. It will also enable IREDA to lend Rs120 billion to the renewable energy (RE) sector, to facilitate the debt requirement of RE of additional capacity of about 3,500-4,000 MW. The equity infusion will enhance the networth of IREDA which will help it in additional RE financing,and improve the capital-to-risk weighted assets ratio (CRAR) of IREDA to facilitate its lending and borrowing operations.