The Indian Renewable Energy Development Agency Limited (IREDA) has unveiled a comprehensive borrowing strategy for the fiscal year 2024-25, with a planned mobilization of funds amounting to ₹24,200 Crore. This decision was ratified during a board meeting, underscoring the agency’s ambitious agenda to enhance India’s renewable energy infrastructure and capacity.
Under this funding blueprint, IREDA aims to tap into a varied mix of financial instruments. The portfolio includes Taxable Bonds, Green Taxable Bonds, and an assortment of other debt instruments such as Sub-ordinated Tier-II Bonds and Perpetual Debt Instruments. Furthermore, the agency has expressed its intention to issue Green Masala Bonds and Green Foreign Currency Bonds denominated in major currencies such as USD, EUR, and JPY. The strategy also encompasses procuring term loans from domestic banking and financial entities, in addition to securing credit lines from international bodies.
The borrowing program is designed to furnish IREDA with the requisite capital to drive significant expansions within the renewable energy sector. This initiative reflects a concerted effort to propel India towards achieving its renewable energy goals, showcasing a strong commitment to sustainable and green energy development.
In a related development, the Ministry of New & Renewable Energy (MNRE) has facilitated a key leadership transition within IREDA. Shri Bijay Kumar Mohanty, who is presently serving as the Director (Finance) at the agency, has been appointed on an interim basis to the role of Director (Technical). This move is indicative of the organization’s focus on strengthening its technical capabilities alongside its financial strategies to support India’s renewable energy ambitions.
Discover more from SolarQuarter
Subscribe to get the latest posts sent to your email.
