(THE GIST OF PIB) IREDA Global Green Energy Finance IFSC Limited

(THE GIST OF PIB) IREDA Global Green Energy Finance IFSC Limited


IREDA Global Green Energy Finance IFSC Limited

  • Indian Renewable Energy Development Agency Ltd. (IREDA) has incorporated a wholly owned subsidiary in the International Financial Services Centre (IFSC) located in GIFT City, Gujarat. 

  • Named “IREDA Global Green Energy Finance IFSC Limited,” the subsidiary was officially incorporated on 7th May, 2024. 


  • Indian Renewable Energy Development Agency Limited (IREDA) is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). 

  • The CPSEs which have made profit in the last three years continuously, pre-tax profit is Rs.30 crores or more in at least one of the three years and have a positive net worth are eligible to be considered for grant of Miniratna Category-I status.

  • IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: ‘ENERGY FOR EVER’.

  • Its objective is to give financial support to specific projects and schemes for generating electricity and/or energy through new and renewable sources and conserving energy through energy efficiency.

About IFSC

  • An International Financial Services Centre (IFSC) is a jurisdiction that provides world class financial services to non-residents and residents in a currency other than the domestic currency (Indian Rupee) of the location where the IFSC is located. 

Services provided by an IFSC:

  • Fund-raising services for individuals, corporations and governments

  • Asset management and global portfolio diversification undertaken by pension funds, insurance companies and mutual funds

  • Wealth management

  • Merger and acquisition activities among trans-national corporations, etc.



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Courtesy: PIB