About Indian Renewable Energy Development Agency (IREDA):
- It was set up as a specialized non-banking finance agency for the renewable energy sector.
- It is a Public Limited Government Company established as a Non-Banking Financial Institution in 1981.
- REDA 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 Reserve Bank of India (RBI).
- It 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.
- Objectives:
- 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 organization to provide efficient and effective financing in renewable energy and energy efficiency/ conservation projects.
