The Indian Renewable Energy Development Agency (IREDA) has an international credit rating by S&P Global Ratings Limited. They have been assigned a ‘BBB-‘ long-term and ‘A-3’ short-term issuer credit ratings. Their outlook has been termed as ‘Stable’. The international rating will make it easier for IREDA to access funding and expand into the international market.
In July 2024, IREDA had announced plans to invest approximately Rs 2.9 billion in a 900 MW hydroelectric power project in Nepal. In May 2024, they incorporated a wholly-owned subsidiary, IREDA Global Green Energy Finance IFSC Limited, in the International Financial Services Centre located in Gujarat International Finance Tec-City city, Gujarat. Additionally, in April 2024, the board of IREDA had sanctioned a borrowing plan amounting to Rs 242 billion for the fiscal year 2024-25.
