Indian Renewable Energy Development Agency Limited (IREDA)

IREDA is a Non-Banking Financial Institution under the administrative control of Ministry of New and Renewable Energy (MNRE) for providing term loans for renewable energy and energy efficiency projects.

IREDA is a Mini Ratna (Category – I) Government of India Enterprise.

IREDA is a Public Limited Government Company established in 1987 , engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: “ENERGY FOR EVER”.

It is India’s largest dedicated green financing non-banking finance company (NBFC) and has a diverse investment portfolio worth ₹47,206.66 crore, spanning 23 states and five union territories.

Aims and Policies of IREDA

Financing Renewable energy projects.

Supporting green power capacity.

Financing the setting up of solar manufacturing units.

Objectives of IREDA

1 . To give financial support to specific projects and schemes for generating electricity and / or energy through new and renewable sources and conserving energy through energy efficiency.

2 . To maintain its position as a leading organisation to provide efficient and effective financing in renewable energy and energy efficiency / conservation projects.

3 . To increase IREDA`s share in the renewable energy sector by way of innovative financing.

4 . Improvement in the efficiency of services provided to customers through continual improvement of systems, processes and resources.

5 . To strive to be competitive institution through customer satisfaction.

Mission of IREDA

IREDA’s mission is “Be a pioneering, participant friendly and competitive institution for financing and promoting self-sustaining investment in energy generation from Renewable Sources, Energy Efficiency and Environmental Technologies for sustainable development.”

Functions of IREDA

IREDA offers long-term, medium-term, and short-term loans, top-up loans, bridge loans, takeover financing, loans secured against future cashflows, and lines of credit to NBFCs. It also offers non-fund-based products such as letters of comfort, letters of undertaking, payment on order instruments, guarantee assistance schemes, and consultancy services.

PRACTICE QUESTIONS

QUES . With reference to the Indian Renewable Energy Development Agency Limited (IREDA), which of the following statements is/are correct? UPSC 2015

1 . It is a Public Limited Government Company.

2 . It is a Non – Banking Financial Company.

Select the correct answer using the code given below.

(a) 1 only

(b) 2 only

(c) Both 1 and 2

(d) Neither 1 or 2

Answer: (c)

Related Posts

Pumped Storage Hydropower : Working, Types, Advantages and Disadvantages

Hydroelectric power plants, which convert hydraulic energy into electricity, are a major source of renewable energy. There are various types of hydropower plants: run-of-river, reservoir, storage or…

Membrane bioreactor : Advantages and Disadvantages

In the past few decades, Membrane Bioreactor (MBR) technology has emerged as a wastewater treatment technology of choice over the activated sludge process (ASP), which has been…

Sulphur Dioxide (SO2) Pollution : Sources, Effects and How to Reduce?

Sulphur dioxide is a colourless and soluble gas with a pungent odor. It is a liquid when under pressure, and it dissolves in water to form sulphuric…

Largest Emitters of Sulphur Dioxide (SO2) in the World

India is the largest emitter of sulphur dioxide (SO2) in the world, contributing more than 21 per cent of global anthropogenic emissions mainly coming from coal-based electricity…

Common Native Plant Species of India

Common Native Tree Species of India Vernacular Names / Botanical Names 1 . Pilkhan / Ficus virens 2 . Peepal / Ficus religiosa 3 . Bargad /…

Measures for conservation and management of ground water

Must read: Steps for augmentation, conservation and efficient management of water resources in India Though water is a State subject, Central Government has taken a number of…

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!