Indian Renewable Energy Development Agency Limited (IREDA) has inaugurated a new office in Gujarat International Finance Tec-City (GIFT), Gandhinagar, dedicated to offering debt options denominated in foreign currencies.
This strategic move aims to support green hydrogen and renewable energy manufacturing projects by enabling natural hedging and substantial reductions in financing costs. IREDA has been at the forefront of renewable energy financing through the provision of innovative products for emerging technologies at competitive rates and is committed to support the deployment of energy storage technologies in India.
Recently, in April 2024, the board of IREDA has sanctioned a borrowing plan amounting to Rs 242 billion for the fiscal year 2024-25.
In February 2024, IREDA signed a MoU with Punjab National Bank to promote renewable energy initiatives throughout the country.
