IREDA establishes subsidiary within IFSC in GIFT City, Gujarat
ECONOMY & POLICY

IREDA establishes subsidiary within IFSC in GIFT City, Gujarat

IREDA, a state-owned entity, has established a subsidiary within the International Financial Services Centre (IFSC) situated in GIFT City, Gujarat. Officially named IREDA Global Green Energy Finance IFSC Limited, the subsidiary was incorporated on May 7, following the receipt of a no objection letter from the Reserve Bank of India (RBI) in February 2024, permitting the establishment of the finance company within IFSC GIFT City, as stated by IREDA.

"This subsidiary not only positions IREDA to extend its global reach but also acts as an offshore platform for securing competitive funding to drive the renewable energy sector's growth?, emphasised Pradip Kumar Das, Chairman & Managing Director, IREDA.

IREDA, operating under the Ministry of New and Renewable Energy (MNRE), is a Non-Banking Financial Institution dedicated to promoting, developing, and providing financial assistance for the establishment of projects related to new and renewable energy sources, along with energy efficiency and conservation efforts.

(Source:ET)

IREDA, a state-owned entity, has established a subsidiary within the International Financial Services Centre (IFSC) situated in GIFT City, Gujarat. Officially named IREDA Global Green Energy Finance IFSC Limited, the subsidiary was incorporated on May 7, following the receipt of a no objection letter from the Reserve Bank of India (RBI) in February 2024, permitting the establishment of the finance company within IFSC GIFT City, as stated by IREDA. This subsidiary not only positions IREDA to extend its global reach but also acts as an offshore platform for securing competitive funding to drive the renewable energy sector's growth?, emphasised Pradip Kumar Das, Chairman & Managing Director, IREDA. IREDA, operating under the Ministry of New and Renewable Energy (MNRE), is a Non-Banking Financial Institution dedicated to promoting, developing, and providing financial assistance for the establishment of projects related to new and renewable energy sources, along with energy efficiency and conservation efforts. (Source:ET)

Next Story
Infrastructure Urban

Statiq and HPCL Partner to Boost EV Charging Network Across India

In a major step towards building a robust electric vehicle (EV) charging ecosystem in India, Statiq is proud to announce its partnership with Hindustan Petroleum Corporation (HPCL), one of the country’s leading oil marketing companies. Under this strategic collaboration, Statiq will onboard HPCL’s entire charging network — both existing and upcoming — onto the Statiq mobile app through its flagship EVLinq platform.This integration adds over 5,100 chargers from HPCL’s network, including 2,900 DC fast chargers, to Statiq’s platform, significantly strengthening one of India’s larges..

Next Story
Infrastructure Transport

CM Unveils Common Mobility Card for Metro Line 3 Commuters

Starting June 11, passengers on Mumbai Metro’s underground Metro 3 line—operational between Aarey-JVLR and Acharya Atre Chowk—can now use the National Common Mobility Card (NCMC) for seamless, contactless travel. The Mumbai Metro Rail Corporation (MMRC), responsible for constructing, operating, and maintaining Metro 3, has enabled this functionality to simplify the commuter experience.The NCMC card, launched at Mantralaya in the presence of key state leaders, allows commuters to tap and travel without waiting in queues at ticket counters. This move extends the card’s usability beyond M..

Next Story
Infrastructure Transport

Centre Fast-Tracks Rs 111.50 Bn for 3 New Delhi Metro Corridors

The Central government has advanced plans for three new metro corridors in Delhi under the PM GatiShakti infrastructure framework, with a total proposed investment of approximately Rs 111.50 billion. The corridors include R K Ashram to Indraprastha, Aerocity to Terminal-1, and Tughlakabad to Kalindi Kunj.Together spanning over 16 km, these projects have recently been reviewed by the National Planning Group and are expected to be placed before the Cabinet for approval.Among the proposed routes, the R K Ashram to Indraprastha corridor will be the longest and fully underground, comprising nine st..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?