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IREDA receives approval to launch subsidiary for retail renewable energy business

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The Indian Renewable Energy Development Agency (IREDA) has received in-principle approval from the Department of Investment and Public Asset Management (DIPAM) to establish a wholly-owned subsidiary focused on retail and B2B renewable energy sectors.  This new entity will manage initiatives under PM-Suryaghar (Rooftop Solar), PM-KUSUM schemes, and other B2C segments, while also exploring emerging sectors such as electric vehicles (EVs), energy storage, and green technologies.

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DIPAM approves IREDA to raise Rs 45 billion through equity issue

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Indian Renewable Energy Development Agency Limited (IREDA) has received approval from the Department of Investment and Public Asset Management (DIPAM) to raise approximately Rs 45 billion via a fresh equity issue through qualified institutions placement (QIP). Following the equity raise, the Government of India plans to reduce its shareholding in IREDA by up to 7%, potentially in one or more stages.

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SJVN, GMR, IREDA sign MoU for Upper Karnali Hydro Project in Nepal

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SJVN, GMR Upper Karnali Hydro Power (GMR), and the Indian Renewable Energy Development Agency (IREDA) have signed a memorandum of understanding (MoU) to jointly develop the 900 MW Upper Karnali Hydro Electric Project in Nepal. SJVN and GMR will each hold a 34% stake, with IREDA taking 5%, while the remaining equity will be owned by the Nepal Electricity Authority (NEA). The project, with an estimated cost of Rs 91 billion, will be developed on…