Indian Renewable Energy Agency To Launch Two Subsidiaries

Mohammad Ali (@ChaudhryMAli88) Published January 09, 2025 | 01:45 PM

NEW DELHI, (UrduPoint / Pakistan Point News / WAM - 09th Jan, 2025) The Indian Renewable Energy Development Agency Limited (IREDA), the government’s non-banking financial institution to promote new and renewable sources of energy, conservation of energy and energy efficiency is to set up two pioneering subsidiaries.

One of these will promote Green Hydrogen and manufacture of renewable energy equipment through foreign Currency financing.

The other will be a retail subsidiary for popularising rooftop solar power generation and for business-to-consumer (B2C) segments in renewable energy, including electric vehicles, energy storage and green technologies.

Both these subsidiaries will enhance sustainability in India and transition renewable energy towards the goal of affordability, IREDA’s Chairman and Managing Director Pradip Kumar Das said.

IREDA is India’s first operational greenfield smart city and international financial services centre.