About IREDA

• Indian Renewable Energy Development Agency Limited (IREDA) is a Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). 
• IREDA was established as a Non-Banking Financial Institution in 1987.
• It engages in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.

Why in News?

• The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi has approved the equity infusion of Rs.1500 crore in  Indian Renewable Energy Development Agency Limited.
• 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 will enable IREDA to enhance its networth which will help it in additional Renewable Energy financing, thus contributing better to the Government of India targets for Renewable Energy.

Reference:

1. https://pib.gov.in/PressReleasePage.aspx?PRID=1790943