On January 19, India’s Cabinet Committee on Economic Affairs (CCEA) and the Union Cabinet decided in a meeting to approve a Rs 1,500 crore equity infusion in the Indian Renewable Energy Development Agency (IREDA) Limited.
Later in the day, the union cabinet held a press conference to announce the news and explain how the equity investment will enable IREDA lend Rs 12,000 crore to the renewable energy sector. Furthermore, it would help the agency in increasing its net worth, allowing it to offer greater funding to the renewable energy sector.
