India approves IPO of IREDA to help fund more renewables projects

Facebook
Twitter
LinkedIn
Reddit
Email
Credit: Renew Power

India’s Cabinet Committee on Economic Affairs has approved the IPO of the Indian Renewable Energy Development Agency (IREDA) aiming to help fund more renewable energy projects.

The plan is to issue 139 million equity shares of IREDA at INR10 (US$0.155) each via the IPO.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The IPO will enable IREDA to increase its equity base and help raise more debt resources for funding renewable energy projects. A government release said the IPO would also increase IREDA’s visibility in domestic and international financial markets.

IREDA is registered as Non-Banking Financial Company with the Reserve Bank of India, primarily working with the private sector enterprises operating in the power sector.

While financing has been deemed a major issue in the past for Indian solar, various financiers have explained how a new atmosphere in Indian financing helped drive PV tariffs to new record lows in Madhya Pradesh back in February, and in Rajasthan more recently.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA