IREDA Boosts Net Worth with Rs 910 Crore Bond Issuance

State-owned IREDA raised Rs 910 crore through bond issuance to boost its Tier-II capital. This move strengthens its capital-to-risk assets ratio and supports the agency's green financing efforts, aiming to meet India's renewable energy targets of 500 GW by 2030.

State-owned Indian Renewable Energy Development Agency (IREDA) has successfully secured Rs 910 crore via the issuance of bonds on Tuesday.

This capital increase will enhance IREDA's Tier-II capital, bolstering its net worth and improving its capital-to-risk-weighted assets ratio, according to an official statement.

IREDA, a non-banking financial institution under the Ministry of New and Renewable Energy, aims to expedite green energy financing, matching India's goal of achieving 500 GW of non-fossil fuel energy capacity by 2030, as stated by CMD Pradip Kumar Das.

(With inputs from agencies.)