Connect with us

The Plunge Daily

Cabinet approves Rs 1,500 cr infusion in IREDA

Cabinet approves Rs 1,500 cr infusion in IREDA

Business

Cabinet approves Rs 1,500 cr infusion in IREDA

The government on Wednesday decided to infuse Rs 1,500 crore in the Indian Renewable Energy Development Agency Limited (IREDA), raising its lending capacity to Rs 12,000 crore. A proposal in this regard was approved by the Cabinet Committee on Economic Affairs.



Briefing reporters after the Cabinet meeting, Information and Broadcasting Minister Anurag Thakur said the decision has been taken in the wake the RBI’s lending norms. The minister said the infusion of Rs 1,500 crore will enable IREDA to lend Rs 12,000 crore to the renewable sector.


Also read: Lummo raises $80 mn in funding from Tiger Global, Sequoia Capital India, others

The Cabinet decision will help IREDA to create renewable energy capacity of 3,500 to 4,000 MW.


1 Comment

1 Comment

  1. Pingback: Settlrs raises USD 1 mn in funding from Canbank Venture Capital, others

Leave a Reply

Your email address will not be published.

To Top
Loading...