The Indian Renewable Energy Development Agency Limited (IREDA) has approved a plan to raise up to Rs 50 billion through Qualified Institutions Placement (QIP) of equity shares in one or more tranches. The decision aims to bolster IREDA’s financial resources to meet the rising demand for green energy financing. The issuance will be undertaken following the necessary approvals from shareholders and regulatory authorities.
The initiative is expected to enable IREDA to scale up its financial support for renewable energy projects. Additionally, the Government of India’s shareholding in IREDA will remain intact, with up to 7 per cent dilution in the post-issue equity.
In October 2024, IREDA received in-principle approval from the Department of Investment and Public Asset Management to establish a wholly-owned retail subsidiary to manage retail operations under PM-Surya Ghar: Muft Bijli Yojana, PM-KUSUM schemes, and B2C segments in renewable energy and emerging sectors such as electric vehicles, energy storage, green technologies, and energy efficiency.
