IREDA Board clears proposal of Rs 24,200 crore borrowing for FY25 -EQ
In Short – IREDA’s board has cleared a proposal to borrow Rs 24,200 crore for the fiscal year 2025. This significant borrowing allocation indicates the organization’s strategic financial planning and its commitment to support renewable energy initiatives and projects in the coming year.
In Detail – State-owned Indian Renewable Energy Development Agency Ltd’s (IREDA) board on Thursday approved a proposal of Rs 24,200 crore borrowing for 2024-25.
The borrowing includes fundraising through bonds, perpetual debt instruments (PDI), term loans, commercial papers, and external commercial borrowings (ECB), a regulatory filing said.
According to the filing, the Board of Directors, in its meeting held today — Thursday, March 28, 2024 — inter-alia has approved the borrowing programme of up to Rs 24,200 crore for FY 2024-25.
Further, the Ministry of New & Renewable Energy (MNRE) vide office order dated March 27, 2024, has conveyed the Order of Appointments Committee of the Cabinet (ACC) dated March 15, 2024, regarding entrustment of additional charge of the post of Director (Technical), IREDA, to Bijay Kumar Mohanty, Director (Finance), IREDA, for a period of 6 (six) months from March 5, 2024, or until the appointment of a regular incumbent, or until further orders, whichever is the earliest.
