Govt approves IREDA’s retail subsidiary

New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) on Thursday said that it has received in-principle approval from the Department of Investment and Public Asset Management (DIPAM), to establish a wholly-owned retail subsidiary.

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The subsidiary will be incorporated for handling the retail business under PM-Suryaghar (Rooftop Solar), PM-KUSUM schemes and B2C segments in RE and Emerging RE sector including EVs, Energy Storage, Green Technologies, Sustainability, Energy Efficiency, etc.

Commenting on this development, IREDA CMD Pradip Kumar Das stated, "This new retail subsidiary marks a significant milestone in our journey towards fostering sustainable energy solutions at the grassroots level. By extending our expertise in renewable energy finance to the retail market, we will provide innovative financing options for both urban and rural consumers, promoting sustainable practices and reducing carbon footprints.”

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