Indian Renewable Energy Development Agency Limited (IREDA) has been upgraded from Schedule B to Schedule A category of Central Public Sector Enterprises (CPSE). This elevation to the Schedule A category paves the way for IREDA’s potential upgradation from its current Mini Ratna (Category– I) status to the Navratna status. Such a transition would grant IREDA greater financial autonomy, empowering the organisation to make strategic decisions that align with its mission of accelerating the widespread adoption of renewable energy solutions throughout India.
Recently, in September 2023, a MoU had been signed between IREDA and the Bank of Maharashtra to encourage and make loan syndication and co-lending easier for a range of renewable energy projects across the country.
In the same month, IREDA and India Infrastructure Finance Company Limited signed a MoU to co-finance, co-originate, and syndicate loans for all types of renewable energy projects, including small hydro projects.