Indian Renewable Energy Development Agency
Q. Indian Renewable Energy Development Agency (IREDA)
- Indian Renewable Energy Development Agency (IREDA) is a profit making public sector financing company under the administrative control of Ministry of Non-conventional Energy Sources (MNES) and Ministry of Non-conventional Renewable Energy sources (MNRE).
- IREDA was promoted by government in 1987, mainly for promotion of renewable energy sources link wind, hydro, solar, bio-mass, waste to energy etc.
- Later it diversified into energy efficiency and conservation.
- Now IREDA extends financial assistance for renewable energy, energy efficiency and conservation projects with the motto ‘Energy forever’. TREDA’s financial assistance is available to industries for their energy saving projects upto 75% of the total project cost at a concessional rate of interest on long term basis.
- Upto March 2003 IREDA approved 1711 projects with financial assistance of about ₹ 6675 crores and disbursed 3640 crores. The projects financed by IREDA developed 2472 MW power generation capacity.
- Now- a-days IREDA is running a regular media campaign for creating awareness among the industrial units about the benefits of energy efficiency and its financial assistance for the same. Its advertisement states “Energy efficiency helps in plugging revenue leakage”.
E. Indian Renewable Energy Development Agency