IREDA's Green Energy Arm Steps into Finance at Gujarat's GIFT City

IREDA's subsidiary, IREDA Global Green Energy Finance IFSC Limited, has received provisional registration as a finance company at Gujarat's GIFT City. This move enables the entity to undertake finance-related activities in renewable energy, marking a significant step in advancing India's green energy sector.

IREDA, the state-owned enterprise, announced on Tuesday that its wholly-owned subsidiary has secured provisional registration as a finance company at Gujarat's GIFT City.

IREDA Global Green Energy Finance IFSC Limited was awarded a Certificate of Registration on February 18 by the International Financial Services Centre Authority (IFSCA), enabling it to commence finance operations.

The move was detailed in a letter dated September 4, 2024, with IREDA highlighting the strategic relevance of this step in bolstering financial services for renewable energy projects.