In news: Indian Renewable Energy Development Agency Ltd (IREDA) has been conferred with “Green Urja Award”.
- It is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE).
- It is the only dedicated institution for financing Renewable Energy (RE) & Energy Efficiency (EE) projects in India.
- It was established in 1987.
- Motto is: “ENERGY FOR EVER”.
- It has been notified as a “Public Financial Institution” under section 4 ‘A’ of the Companies Act, 1956 and registered as Non-Banking Financial Company (NBFC) with RBI.
- The main objectives of IREDA are :
- To give financial support to specific projects and schemes for generating electricity and / or energy through new and renewable sources and conserving energy through energy efficiency.
- To maintain its position as a leading organisation to provide efficient and effective financing in renewable energy and energy efficiency / conservation projects.
- To increase IREDA`s share in the renewable energy sector by way of innovative financing.
- Improvement in the efficiency of services provided to customers through continual improvement of systems, processes and resources.
- To strive to be a competitive institution through customer satisfaction.
- It is awarded for being the Leading Public Institution in Financing Institution (FI) for Renewable Energy in 2021 by Indian Chamber of Commerce (ICC).