IREDA has raised Rs 910.37 crore through the issuance of Tier-II bonds.
Indian Renewable Energy Development Agency Limited, or IREDA, has raised ₹910.37 crore through the issuance of privately placed tier-II bonds with a 10-year tenor at an annual coupon rate of 7.74%.
The funds raised will boost IREDA’s tier-II capital, increasing its net worth and capital-to-risk-weighted assets ratio (CRAR), enhancing its capacity to finance the country’s clean energy transition.
The IREDA board has approved raising funds through bonds and loans to accelerate renewable energy development and contribute to India’s green energy targets.
Pradip Kumar Das, Chairman and Managing Director, IREDA, said, The successful raising of Tier-II capital reflects investors’ strong confidence in IREDA’s financial strength and strategic vision. This will further empower us to accelerate green energy financing, aligning with the Government of India’s target to achieve 500 GW of non-fossil fuel-based energy capacity by 2030.”
