IREDA to launch two innovative Subsidiaries to boost Green Hydrogen, Renewable Energy
One subsidiary will focus on promoting green hydrogen and the manufacturing of renewable energy equipment through foreign currency financing.
IREDA to launch two innovative Subsidiaries to boost Green Hydrogen, Renewable Energy
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 subsidiary will focus on promoting green hydrogen and the manufacturing of renewable energy equipment through foreign currency financing. The second subsidiary will target 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 facilitating the transition towards affordable renewable energy solutions.
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Indian Renewable Energy Development Agency Limited (IREDA) is an Indian public sector enterprise that provides financial assistance and other services to projects related to renewable sources of energy and energy efficiency/conservation.