IREDA Establishes Green Financing Subsidiary

13 May 2024 CW Team

The Indian Renewable Energy Development Agency (IREDA) has established a subsidiary in the Gujarat International Finance Tec-City (GIFT City) to focus on green financing initiatives. This strategic move aims to bolster IREDA's efforts in promoting renewable energy projects and facilitating sustainable development.

The newly incorporated subsidiary will play a pivotal role in expanding IREDA's presence in the renewable energy sector and catalysing investments in green projects. By leveraging the financial ecosystem of GIFT City, the subsidiary aims to enhance access to capital and support the financing needs of renewable energy projects across India.

IREDA's decision to establish a subsidiary in GIFT City underscores its commitment to advancing renewable energy deployment and fostering innovation in the sector. The subsidiary will serve as a dedicated platform for facilitating green financing and promoting investments in renewable energy infrastructure.

The incorporation of the subsidiary aligns with India's ambitious renewable energy targets and commitment to transitioning towards a low-carbon economy. It reflects IREDA's proactive approach to leveraging financial markets and institutional frameworks to accelerate the adoption of renewable energy technologies.

Through its subsidiary in GIFT City, IREDA aims to provide a comprehensive suite of financial services tailored to the needs of renewable energy developers and investors. By strengthening the financing ecosystem for green projects, the subsidiary will contribute to India's sustainable development goals and support the country's transition towards clean and renewable energy sources.

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