RBI grants IREDA the status of  Infrastructure Finance Corporation
POWER & RENEWABLE ENERGY

RBI grants IREDA the status of Infrastructure Finance Corporation

The Reserve Bank of India (RBI) granted Indian Renewable Energy Development Agency (IREDA) the status of 'Infrastructure Finance Company (IFC)'

IREDA was previously classified as a 'Investment and Credit Company (ICC).

With IFC status, IREDA will be able to increase its involvement in renewable energy financing.

The IFC status will also allow the company to reach a larger investor base for fund mobilisation, resulting in competitive fund raising rates.

Additionally, IREDA's designation as an IFC will boost the brand's value, inspire trust in investors, and create a favourable outlook for the market.

The grant of IFC status, according to a statement from the Ministry of New and Renewable Energy, recognises IREDA's 36 years of infrastructure finance and development with a concentration on renewable energy.

With IFC status, IREDA will continue to support the Center's goal of installing 500 GW of non-fossil fuel capacity by 2030, the ministry stated.

Pradip Kumar Das, Chairman and Managing Director of IREDA, said, “The IFC status is a significant milestone for IREDA and will enable us to maintain our leading position as a financier of RE space. IREDA will continue to play a motherly role for development of RE sector.”

Since its founding in 1987, IREDA has worked to advance, create, and finance novel and renewable energy sources.

It provides funding for all value chains and RE technologies, including those in e-mobility, battery storage, biofuel, solar, wind, hydro, bioenergy, waste to energy, and bioenergy.

See also:
IREDA and SJVN Green Energy sign a loan agreement for Rs 44.45 billion
IREDA urged to develop a strategy for project financing

The Reserve Bank of India (RBI) granted Indian Renewable Energy Development Agency (IREDA) the status of 'Infrastructure Finance Company (IFC)' IREDA was previously classified as a 'Investment and Credit Company (ICC). With IFC status, IREDA will be able to increase its involvement in renewable energy financing. The IFC status will also allow the company to reach a larger investor base for fund mobilisation, resulting in competitive fund raising rates. Additionally, IREDA's designation as an IFC will boost the brand's value, inspire trust in investors, and create a favourable outlook for the market. The grant of IFC status, according to a statement from the Ministry of New and Renewable Energy, recognises IREDA's 36 years of infrastructure finance and development with a concentration on renewable energy. With IFC status, IREDA will continue to support the Center's goal of installing 500 GW of non-fossil fuel capacity by 2030, the ministry stated. Pradip Kumar Das, Chairman and Managing Director of IREDA, said, “The IFC status is a significant milestone for IREDA and will enable us to maintain our leading position as a financier of RE space. IREDA will continue to play a motherly role for development of RE sector.” Since its founding in 1987, IREDA has worked to advance, create, and finance novel and renewable energy sources. It provides funding for all value chains and RE technologies, including those in e-mobility, battery storage, biofuel, solar, wind, hydro, bioenergy, waste to energy, and bioenergy. See also: IREDA and SJVN Green Energy sign a loan agreement for Rs 44.45 billionIREDA urged to develop a strategy for project financing

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?