IREDA Launches Retail Division

  • Indian Renewable Energy Development Agency Limited (IREDA) has launched its retail division.
  • To provide loans to borrowers in the PM-KUSUM scheme, Rooftop Solar, and other Business-to-Consumer (B2C) sectors.
  • By Chairman & Managing Director of IREDA Mr Pradip Kumar Das.
  • During the Leaders’ Dialogue on “Actioning Solutions for Global Sustainable Development and Governance of Resources” organized by CEEW & CII as part of COP28 in Dubai on 7th December 2023.
  • First loan of Rs. 58 crores was provided under KUSUM-B.
  • Proposed sustainable investing by suggesting a 1%-2% Assets under Management (AUM) allocation for domestic pension and insurance funds into Renewable Energy (RE) bonds.
  • To deepen bond markets, fostering increased global and local investments.

Panel Discussions:

  • The first discussion, organized by the Asian Development Bank, focused on “Scaling up Climate Finance to Meet India’s Energy Transition Goals.”
  • Second, jointly organized by the International Solar Alliance and CII, was on “Financing Industry Transitions in Emerging Markets and Developing Economies.”
  • Emphasized the necessity of establishing a comprehensive green taxonomy covering the entire spectrum of Renewable Energy and green technology-based investments.
  • Would enhance transparency in Renewable Energy sector issuances, attracting investors with a commitment to sustainability.
  • Underscored the significance of finding and financing low-emission solutions to meet the rising energy demand.
Posted in Current Affairs.