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CBDT grants IREDA bonds tax-exempt status

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The Central Board of Direct Taxes (CBDT), under the Ministry of Finance, has notified that bonds issued by Indian Renewable Energy Development Agency Ltd. (IREDA) will be treated as ‘long-term specified assets’ under section 54EC of the Income-tax Act, 1961. The notification took effect on July 9, 2025. As per the notification, IREDA bonds that are redeemable after five years and issued on or after the effective date will qualify for capital gains tax exemption…

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IREDA sanctions Rs 117.40 billion in Q1

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The Indian Renewable Energy Development Agency (IREDA) has sanctioned Rs 117.40 billion in loans during the first quarter of FY26, marking a 29 per cent increase from Rs 91.36 billion in the same period last year. Loan disbursements also rose by 31 per cent year-on-year to Rs 69.81 billion. IREDA’s outstanding loan book stood at Rs 799.60 billion at the end of the quarter, 27 per cent higher than the Rs 632.07 billion recorded in…

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Oyster Renewable and Jindal Stainless to build hybrid project

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Oyster Renewable Energy has partnered with Jindal Stainless Limited to develop a 282 MW interstate transmission system (ISTS)-connected wind-solar hybrid project. The project will supply renewable power to Jindal Stainless’ manufacturing units. It will be built across two sites—Bhuj in Gujarat and Agar in Madhya Pradesh. The Bhuj site will host 99 MW of wind capacity, while the Agar site will have 82 MW of wind and 135 MWp of solar capacity. The project will…

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IREDA and Waaree Renewable report profit growth in 2024–25

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Indian Renewable Energy Development Agency Limited (IREDA) has posted a net profit of Rs 16.98 billion for 2024–25. This marks a 35.62 per cent rise from Rs 12.52 billion in the previous year. The company’s total income increased by 36.07 per cent to Rs 67.56 billion, up from Rs 49.65 billion in 2023–24. Waaree Renewable Technologies Limited also reported a significant jump in profitability. Its net profit rose to Rs 2.29 billion in 2024–25, up…

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IREDA secures $172 million loan from SBI Tokyo

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Indian Renewable Energy Development Agency Limited (IREDA) has secured a loan facility worth approximately $172 million from the State Bank of India (SBI) Tokyo. The loan includes a greenshoe option of around $66.2 million through external commercial borrowings. Structured as a five-year unsecured facility with a bullet repayment at maturity, the loan is expected to have a landed cost below 7 percent after hedging. IREDA plans to use the funds to diversify its resource base…

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IREDA raises Rs 9.1 billion through Tier-II bonds

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Indian Renewable Energy Development Agency Limited (IREDA) has raised Rs 9.1 billion through privately placed subordinated Tier-II bonds. The bonds, issued with a 10-year tenure, carry an annual coupon rate of 7.74 per cent. The capital raised will enhance IREDA’s Tier-II capital, strengthening its net worth and improving its capital to risk-weighted assets ratio.  The funds will be utilized to enhance liquidity in the financial market and support IREDA’s borrowing strategy. This will facilitate increased…

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IREDA raises Rs 12.47 billion through perpetual bonds

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The Indian Renewable Energy Development Agency (IREDA) has launched its first-ever perpetual bonds, raising Rs 12.47 billion at an annual coupon rate of 8.40 per cent.  This move aims to optimize its capital structure and take advantage of favourable market conditions. The bond issuance is a key step in enhancing IREDA’s Tier-I capital, ensuring a stronger financial foundation to support India’s growing green energy infrastructure. Alongside this, IREDA has received a Rs 0.24 billion tax…

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IREDA reports Rs 4.25 billion net profit in Q3 FY25, up 26.48%

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Indian Renewable Energy Development Agency Limited (IREDA) posted a net profit of Rs 4.25 billion for the quarter ending December 2024, a 26.48% rise compared to Rs 3.36 billion in the same quarter last year. The company’s revenue from operations increased by 35.59% to Rs 16.99 billion during the quarter, up from Rs 12.53 billion reported in the corresponding period of 2023.

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IREDA signs joint venture for Upper Karnali hydroelectric project in Nepal

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Indian Renewable Energy Development Agency Ltd. (IREDA) has finalized a joint venture agreement with SJVN Ltd., GMR Energy Ltd., and Nepal Electricity Authority (NEA) to develop the 900 MW Upper Karnali Hydroelectric Project in Nepal.   The agreement outlines a framework for project development, construction, operation, and maintenance under a Build-Own-Operate-Transfer (BOOT) model. The project will operate for 25 years from the Commercial Operation Date (CoD). The agreement was formalized in New Delhi today in the…

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IREDA sanctions Rs 30 billion for Odisha’s green energy projects

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Shri Pradip Kumar Das, Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Limited (IREDA), delivered a keynote address at the Odisha Solar Investor Conclave hosted by GRIDCO in Bhubaneswar.  The CMD confirmed that IREDA has sanctioned over Rs 30 billion for renewable energy projects in Odisha, covering sectors such as solar, hydro, ethanol, and renewable energy manufacturing.  Odisha aims to achieve 10 GW of renewable energy capacity by 2030, and IREDA’s support…