The Indian Renewable Energy Development Agency Limited (IREDA), a government-backed non-banking financial institution, is set to establish two innovative subsidiaries aimed at advancing renewable energy and sustainability in India.
One of the new subsidiaries will focus on promoting Green Hydrogen and the manufacturing of renewable energy equipment through foreign currency financing. The second subsidiary will cater to the business-to-consumer (B2C) sector, encouraging the adoption of rooftop solar power generation, electric vehicles, energy storage, and other green technologies.
Pradip Kumar Das, Chairman and Managing Director of IREDA, stated that these initiatives will play a key role in enhancing sustainability in India and driving the transition towards affordable renewable energy solutions.
IREDA, known for its leadership in promoting renewable energy and energy efficiency, continues to lead India’s efforts in sustainability. It is also recognized as the country’s first operational greenfield smart city and international financial services center.
