IREDA to Raise Rs 4,500 Crore for Renewable Energy

By By Rediff Money Desk, New Delhi
Aug 21, 2024 18:27
IREDA plans to raise up to Rs 4,500 crore through share issuance to fund renewable energy projects, aiming to achieve India's ambitious 500GW target by 2030.
New Delhi, Aug 21 (PTI) The Indian Renewable Energy Development Agency Ltd (IREDA) on Wednesday said its board will consider a proposal to raise up to Rs 4,500 crore through issuance of shares in its meeting on August 29.

The funds would be raised in one or more tranches through Further Public Offer (FPO) / Qualified Institutional Placement (QIP) / Right Issue / Preferential Issue or any other permitted mode or combination, subject to the statutory or government approval, a BSE filing said.

IREDA, under Ministry of New & Renewable Energy, is engaged in providing finance to mainly renewable energy projects.

The fundraising assumes significance as India has an ambitious target of having 500GW renewable energy by 2030 and needs to add about 50GW capacity per annum to achieve the goal.
Source: PTI
Read More On:
indiafundraisingrenewable energyireda500gw target
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.

You May Like To Read

MORE NEWS

Anarock Doubles Office Leasing Team Amid Rising...

Anarock, a real estate consultant, is doubling its office leasing team to 100...

India FDI Surges: Goyal Highlights Growth...

India's FDI is booming, driven by investors from the Middle East, Japan, EU &&...

CCI to Boost Enforcement, Leverage Tech for...

CCI Chairperson Ravneet Kaur outlines plans to strengthen enforcement, enhance...

TRAI to Pilot Digital Consent System for Spam...

TRAI is launching a pilot program to digitize past user consents for commercial...

Caliber Mining IPO: Rs 600 Crore Coal Mining &...

Caliber Mining and Logistics, a Nagpur-based coal mining and logistics provider, files...

Neelkanth Realtors IPO: Sebi Filing, Details...

Neelkanth Realtors, a Mumbai-based real estate developer, files draft papers with Sebi...

India Launches New PLI Scheme for Steel Sector

India's government will launch a new round of the PLI scheme for the steel sector,...

Lower GST on Cement to Boost Demand: JK Lakshmi

JK Lakshmi Cement urges government to reduce GST on cement to 18% and implement...

ICAR Member Urges Modi to Appoint New Director...

An ICAR member calls for a new director general with global expertise to revitalize the...

NHAI Prepays Rs 56,000 Cr Loan, Saves Rs 1,200...

NHAI prepays Rs 56,000 crore in loans during FY25, reducing its debt liability and...

Read More »

Sectoral Indices Market Indicators Listed Companies Gainers Losers Mutual Funds Portfolio Watchlist
© 2025 Rediff.com