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IREDA: Powering India’s Green Energy Future

The Indian Renewable Energy Development Agency (IREDA) is a key institution driving India's transition toward sustainable energy. As a public sector enterprise under the Ministry of New and Renewable Energy (MNRE), IREDA plays a crucial role in financing, promoting, and developing renewable energy projects across the country.

What is IREDA?

Established in 1987, IREDA is a Non-Banking Financial Institution (NBFC) that provides financial assistance for renewable energy and energy efficiency projects. It aims to accelerate India's shift to clean energy by supporting developers, entrepreneurs, and industries investing in green technologies.

Key Functions of IREDA

IREDA primarily works in the field of renewable energy financing and project development. Its major functions include:

1. Financial Support for Renewable Energy Projects

IREDA provides funding in the form of loans and credit facilities for renewable energy projects. It supports:

  • Solar Energy: Rooftop solar, grid-connected solar plants, and solar parks.
  • Wind Energy: Onshore and offshore wind projects.
  • Hydropower: Small hydro projects up to 25 MW capacity.
  • Biomass & Waste-to-Energy: Projects utilizing agricultural waste, municipal solid waste, and other bio-based resources.

2. Energy Efficiency & Conservation Financing

IREDA also supports initiatives that improve energy efficiency and reduce carbon footprints. It finances:

  • Industrial energy efficiency upgrades.
  • Green buildings and smart energy systems.
  • Electric mobility and charging infrastructure.

3. Policy & Market Development

IREDA plays a vital role in shaping India’s clean energy policy landscape. It collaborates with MNRE, SECI (Solar Energy Corporation of India), and NITI Aayog to create policies that attract investments in the renewable sector.

4. Green Bonds & International Funding

To expand funding avenues, IREDA issues green bonds and raises capital from international institutions like:

  • World Bank
  • Asian Development Bank (ADB)
  • KfW (Germany’s development bank)

These funds are channeled into renewable projects, ensuring sustainable growth.

5. Capacity Building & Skill Development

IREDA also focuses on knowledge-sharing and training programs for businesses, entrepreneurs, and government bodies.

IREDA’s Impact on India’s Renewable Energy Growth

  • Financed ₹1.5 lakh crore+ worth of projects.
  • Helped install more than 25 GW of renewable energy capacity.
  • Key player in India’s target of 500 GW renewable capacity by 2030.

Future Outlook

With India aggressively pushing for a net-zero economy by 2070, IREDA will continue to be a major driver in scaling up clean energy infrastructure, developing new financing models, and supporting innovative technologies like green hydrogen and offshore wind energy.

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