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Cabinet approves equity infusion of Rs 1500 crore in IREDA

By IndianMandarins- 20 Jan 2022
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cabinet-approves-equity-infusion-of-rs-1500-crore-in-ireda

New Delhi (20.01.2022): The Cabinet Committee on Economic Affairs approved the equity infusion of Rs 1,500 crore in Indian Renewable Energy Development Agency Ltd (IREDA), a 'Mini Ratna" company. This equity infusion will help in employment generation of approximately 10200 jobs-year and CO2 equivalent emission reduction of approximately 7.49 million tonnes CO2/year.
Additional equity infusion of Rs 1500 crore by the  Government will enable IREDA to lend Rs 12,000 crore approximately to the RE sector, thus facilitating the debt requirement of RE of additional capacity of approximately 3500-4000 MW. This will enhance its net worth which will help it in additional RE financing, thus contributing better to the Government of India targets for RE. This will improve the capital-to-risk weighted assets ratio (CRAR) to facilitate its lending and borrowing operations.

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