The central government has decided to invest Rs 1500 crore in the indian Renewable Energy Development Agency Limited (IREDA). minister Anurag Thakur told its benefits through a press conference
The central government has decided that it will invest Rs 1500 crore in the indian Renewable Energy Development Agency Limited (IREDA).
The good thing for the people is that due to this decision of the government, now those working in the field of renewable energy will be able to easily get a large amount of loan.
Union Information and Broadcasting minister Anurag Thakur said following prime minister Modi's cabinet meeting on wednesday that the investment decision had been made so that loans of up to Rs 12,000 crore may be offered to this sector.
In a news conference, Union minister Anurag Thakur stated that this company plays a significant role in the field of renewable energy and that the company was established to finance this sector.
IREDA has a net worth of 3000 crores, according to minister Anurag Thakur. In this case, the corporation can only provide loans of up to 600 crores.
Keeping this in view, it was agreed today to invest Rs 1500 crore in this. The result, he claimed, would be that IREDA will be able to lend up to Rs 12000 crore in the renewable energy sector thanks to the additional equity. This will contribute to the production of 3500 to 4000 MW of renewable energy.
IREDA's portfolio grew from Rs.8800 crore to Rs.28000 crore in 6 years:
Anurag Thakur stated that the Modi government has done a lot of work in the sector of renewable energy, with IREDA playing a key role.
In the last six years, IREDA's portfolio has risen from Rs.8800 crores to Rs.28000 crores, he said. However, according to RBI rules, a corporation can only lend 20% of its net worth in the form of a loan.
