What does IREDA stand for?

IREDA stands for Indian Renewable Energy Development Agency, a Public Sector Undertaking (PSU) under India's Ministry of New and Renewable Energy (MNRE).

What is the primary function of IREDA?

IREDA's main function is to promote, develop, and extend financial assistance for renewable energy and energy efficiency/conservation projects in India.

Is IREDA a government-owned entity?

Yes, IREDA is a Mini Ratna (Category – I) Government of India Enterprise, wholly owned by the Indian government, operating under MNRE.

Why has IREDA been in the news recently?

IREDA gained significant attention due to its successful Initial Public Offering (IPO) in late 2023, strong financial performance, and its pivotal role in financing India's ambitious renewable energy targets.