IREDA to Create a Green Window for Green Energy Finance: Shri Anand Kumar

Shri Anand Kumar, Secretary for the Ministry of New and Renewable Energy (MNRE) stated that the Indian Renewable Energy Development Agency (IREDA) is planning to set up a dedicated “Green Window to serve the un-served segments of renewable energy.”

“Renewable energy is increasingly cheaper and better for the strategic interests of India, and the IREDA Green Window would provide a significant boost to the renewable energy market. As India moves towards becoming a USD 5 trillion economies, the country’s aim to install 450 gigawatts (GW) of renewable energy capacity would be one of the major drivers of its economic growth,” said Kumar, at the UN Climate Change Conference (COP 25) in Madrid, Spain. An allocation of approximately USD 20 million is being considered for the Green window, with plans of leveraging USD 80 million from other agencies to establish a facility of USD 100 million is envisaged. The Green Window would be set up to dedicatedly support underserved clean energy markets and support the scaling up of new clean energy technologies. The seed capital will be used to leverage additional sources of capital from both private domestic banks and international sources.

IREDA is one of India’s leading financial institutions dedicated to clean energy expansion. Since its founding under MNRE in 1987, IREDA has financed the largest share of renewable energy projects in India.

Advertising