The Union Cabinet has approved raising the authorised share capital of the Indian Renewable Energy Development Agency Ltd. (IREDA) from ₹1,000 crore to ₹6,000 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,” an official release said. IREDA is registered as a non-banking financial company and supports and facilitates the policies and programmes of the Ministry of New and Renewable Energy. It primarily works with private sector enterprises operating in the power sector During the 12th Plan, the Ministry has targeted 30,000 MW from various renewable energy projects out of which IREDA aims to finance projects of an aggregate capacity of 4,800 MW.
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