Indian Renewable Energy Development Agency Limited (IREDA) – Objectives & Functions

Year of establishment: 1987

Ministry: Ministry of New and Renewable Energy (MNRE), Government of India.

Type of body: Mini Ratna Category – I Public Sector Enterprise (PSE), statutory & autonomous.

Purpose: The organisation is formed for promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.

This topic of “Indian Renewable Energy Development Agency Limited (IREDA) – Objectives & Functions” is important from the perspective of the UPSC IAS Examination, which falls under General Studies Portion.

Functions:

• IREDA is a Non-Banking Financial Company (NBFC) that provides financial assistance and other services for the promotion and development of renewable energy and energy efficiency/conservation projects in India.
• It offers loans for renewable energy projects, energy efficiency projects, and other energy-related projects.
• It also provides technical assistance, consultancy, and advisory services for renewable energy and energy efficiency projects.