Raising the authorized share capital of Indian Renewable Energy Development Agency

The Cabinet today at the meeting chaired by the Prime Minister, Shri Narendra Modi gave its approval to raise the authorized share capital of the Indian Renewable Energy Development Agency Ltd. (IREDA) from the existing level of Rs.1000 crore to Rs.6000 crore.

The approval does not involve any immediate requirement of funding. Infusion of equity, as and when required, would be based on level of operations.

During the 12th Five Year Plan, Ministry of New and Renewable Energy (MNRE) has targeted 30,000 MW from various renewable energy projects out of which IREDA aims to finance projects of an aggregate capacity of 4800 MW. For this, IREDA would need to mobilize financial resources to the tune of Rs.14,000 crore. A higher level of authorised share capital would facilitate in leveraging higher levels of debt from the market.

The MNRE has recommended strengthening of the equity base of IREDA by infusion of Rs.5000 crore through rights issue and the IPO route during the 12th Five Year Plan, in line with the Integrated Energy Policy (IEP) of the Government.

Background :

IREDA is a public financial institution established in March, 1987 under the Company's Act, 1956. IREDA is registered as a Non-Banking Financial Company with the Reserve Bank of India. Since its inception, IREDA has played a pioneering role in supporting and facilitating the policies and programs of the MNRE that has nurtured the renewable energy industry in the country. IREDA has primarily worked with private sector enterprises operating in the power sector. For over two and half decades, IREDA has been supporting the establishment of renewable energy projects and has greatly succeeded in the commercialization of sustainable energy technologies in the country. Subsequently, its business operations have been widened to extend term loans to energy efficiency and energy conservation projects as well.

Citizens applauded PM Narendra Modi’s efforts towards reviewing of preparedness to handle the ongoing COVID-19 situation

Wonderfulhttps://t.co/BZO8i9mjEn Shri Narendra Modi Ji, your leaderly resolute, leads India to succeed against any odd moment

Yes,current Covid19's propagation must be studied : If necessary, will never hesitate to change the approaches : The goal is to neutralize Covid19.
— Venkatesapalani Thangavelu (@Ven070670) April 18, 2021

Under your capable leadership, we are confident that we shall overcome this also. 🙏🙏
— Keya Ghosh (@keyakahe) April 17, 2021

सर्, पिछले कुछ दिनों से आप लगातार कोरोना की स्थिति पर नजर बनाये हुए है और सबसे निरंतर चर्चा कर लोगो को कोरोना से बचाने के लिये उपयोगी कदम उठा रहे है। आपकी सरकार इस महामारी से निपटने के लिए राज्य सरकारो के साथ मिलकर उचित कदम उठा रही है।
— Nishant🇮🇳 (@iNishant4) April 18, 2021

He knows, he is aware of the situation. Hope Modiji address the nation soon.
Your one appeal is boosting the morale of every Indian. Our frontline warriors are doing their best.
We will come out stronger 🙏
— Harshadha Shirodkar 🇮🇳 (@shirodkarharshu) April 18, 2021

As always leading from the front Sir, setting an example for many as to how a diligent rep, Pradhan sevak, can make a diff to constituents. Transformation of Kashi in all spheres is a learning experience in good governance. The efforts at Corona mitigation, add to those🙏
— Dr. Suchitra Raghavachari (@DrSRaghavachari) April 18, 2021

Good to see your focus today on your constituency.

Always Grounded to Responsibilities !!! https://t.co/WYmIA9TaSd
— AN Arunachalam (@ArunachalamAn) April 18, 2021

#IndiaFightsCorona PM @narendramodi Ji
Reviewed preparedness to handle the ongoing #Covid_19 situation. Aspects relating to medicines, oxygen, ventilators and vaccination , will successfully fight COVID with even greater speed and coordination.https://t.co/N1JNsxF8N4 @PMOIndia pic.twitter.com/axEGpCHzj1
— Zahid Patka (@zahidpatka) April 18, 2021

I salute and thank Our Honourable PM Modiji for reviewing preparedness to handle the Ongoing Covid 19 situation effectively for relating Aspects to medicines, oxygen, ventilators and Vaccination to fight Covid pandemic like Last year even with great Speed and Coordination.,,🙏
— vare ramankumar (@VRamankumar) April 17, 2021

India is growing leaps and bounds under the strong leadership of Modi Govt

That too free Vaccination for all. Even Rs 250/- charged at private hospitals is just a token amount. All class of people got it irrespective of caste, religion, state and economic status is more praiseworthy. Thanks to @narendramodi ji for excellent planning. https://t.co/CdE3jbBmea
— Abhay Upadhyay (@abhaykol) April 18, 2021

Got #vaccinated my first jab at Millat dialysis Centre.Flawless and quick. Thanks @narendramodi @MoHFW_INDIA for taking care. #WearMask
— Sanjeev Jain (@sjain69) April 18, 2021

Jai Bharat.. This is the renovation of Road connectivity from @Shillong to @Kongthongvillage and Khatarshnong area. With the intervention of @MeghalayaGovernor & @RakeshSinha01. Thanks to the Central government led by @narendramodi and @CMO_Meghalaya @jipsonroy pic.twitter.com/6qyoHzDf7E
— Rothell Khongsit (@RothellKhongsi1) April 18, 2021

Learning the first step of self-defense👊, a counter measure for all of us especially girls and women.
Following @narendramodi's instructions to be "आत्मनिर्भर"
Thanks to C S Bhatt sir🙏@ashokkp @y_sanjay @gupta_anju9 @Shipra_Srivastv @KavitaS2003 @PreetiMehra77 @TinaCho73727901 pic.twitter.com/P3CjbCE03u
— Bhoomi Singh (@mebhoomisingh) April 18, 2021

Magnificent atmosphere shows the immense amount of support by the people towards BJP which they believe can bring ashol poribortan by ensuring politics of development, dialogue and cooperation. Kudos for forming the next government in West Bengal with a thumping majority!
— Dr. Swapnil Mantri (@drswapnilmantri) April 17, 2021

Indian Railways under the leadership of @PiyushGoyal sir and PM @narendramodi Ji has left no stone unturned , To fight Corona, the railway will now run the Oxigen Express train by constructing a green corridor. So that the lack of oxygen in the hospital can be overcome. #COVID19
— Suyash Pandey (@iSuyashPandey) April 18, 2021

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