New Delhi: Indian Renewable Energy Development Agency Ltd has received approval from the Reserve Bank of India to set up its wholly-owned subsidiary in the International Financial Services Centre situated in Gujarat.
IREDA’s presence in GIFT City will mark a significant milestone in its mission to spearhead innovative solutions for green financing.
This subsidiary will not only be paving the way for IREDA to leave its global footprints but also serve as an offshore platform for securing competitive funding to push the growth of the renewable energy sector, in alignment with the Government of India’s ambitious ‘Panchamrit’ targets.
This strategic move aligns with its vision of facilitating sustainable development through investments, both domestically and internationally.
It will spearhead innovative solutions for green financing and is expected to open up new business opportunities.
