The Board of Indian Renewable Energy Development Agency (IREDA) has agreed to raise Rs 45 billion through further public offer, qualified institutional placement, rights issue, preferential issue or other permitted modes and combinations. The combinations will be according to statutory and governmental approval. These funds may be raised in multiple tranches.
In August 2024, IREDA secured a ‘BBB-’ long-term and ‘A-3’ short-term issuer credit rating from S&P Global Ratings Limited. In July 2024, they announced plans to invest approximately Rs. 2.9 billion in a 900 MW hydroelectric power project in Nepal.
