Cabinet approves infusion of `1,500-crore in IREDA

The CabinetCommittee on Economic Affairs, chaired by the Prime Minister, Shri NarendraModi, has approved the equity infusion of `1,500-crorein Indian Renewable Energy Development Agency Limited (IREDA). This equityinfusion will help in employment generation of approximately 10,200 jobs per yearand CO2 equivalent emission reduction of approximately 7.49 MillionTonnes CO2/year.

This additionalequity infusion by the Government of India will enable IREDA:

  • To lend `12,000-croreapproximately to the RE sector, thus facilitate the debt requirement of RE ofadditional capacity of approximately 3500-4000 MW.

  • To enhance its net worth, which willhelp it in additional RE financing, thus contributing better to the Governmentof India targets for RE.

  • To improve the capital-to-risk weightedassets ratio (CRAR) to facilitate its lending and borrowing operations.


NEWS ----------SEPTEMBER 2018 Issue
Cygni Energy raises $6.4 Mn to power growth & expansion

Hyderabad-based Cygni Energy Pvt. Ltd., an innovative Solar-DC solutions start-up, has announced that it has raised funds of $6.4-mn through a combination of equity and debt. The equity funding is led by Endiya Partners, a leading early stage venture capital firm that invests in product start-ups, and the debt by IndusInd B   READ MORE...
Cosmos Solutions receives US$950-mn for new eco-friendly energy product
Cosmos Solutions Pvt. Ltd.’s patented new technology to generate more power from engines using micro controllers received a major green signal with a private equity of US$950-million from Linetrust Offshore Ltd. The Head of private equity of Linetrust ASEAN, Dr. Sailesh Lachu Hiranandani, who has spared no effort in promoting the development of renewable energy, assured Cosmos   READ MORE...
Black & Veatch bags IEDCL’s 41MW hybrid project
Black & Veatch has been selected to provide engineering expertise to IL&FS Energy Development Company Limited’s (IEDCL) 41 megawatt (MW) solar photovoltaic (PV), wind, and battery storage hybrid project in India. Core components of the project are 25 MW solar PV and 16 MW wind power generation systems, coupled to an optimised energy storage system.

Technical services for the