Indian Renewable Energy Development Agency Limited (IREDA) has incorporated a wholly owned subsidiary, IREDA Global Green Energy Finance IFSC Limited, in the International Financial Services Centre (IFSC) located in Gujarat International Finance Tec-City (GIFT) city, Gujarat.
The subsidiary acts as an offshore platform for securing competitive funding to drive the renewable energy sector’s growth, aligning with the Government of India’s ambitious ‘Panchamrit’ targets. This strategic step is in line with IREDA’s vision of facilitating sustainable development through renewable energy investments, both domestically and internationally.
In April 2024, IREDA inaugurated a new office in GIFT, Gandhinagar, dedicated to offering debt options denominated in foreign currencies. In the same month, the board of IREDA has sanctioned a borrowing plan amounting to Rs 242 billion for the fiscal year 2024-25.
