Our Company was incorporated in Delhi as "Indian Renewable Energy Development Agency Limited", a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated March 11, 1987, issued by the Registrar of Companies, Delhi and Haryana. Our Company received a certificate of commencement of business dated March 21, 1987, by the RoC. Our Company was notified as a public financial institution under Section 4A of the Companies Act, 1956 by the Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Government of India on October 17, 1995. Further, the Reserve Bank of India granted a certificate of registration to our Company on January 23, 2008 permitting us to commence/carry on the business of non-banking financial institution without accepting public deposits, and classified as an investment and credit company, which was further reclassified as an infrastructure finance company on March 13, 2023.
Major Events: 1987 Incorporated as a public limited company
1995 The GoI notified our Company as Public Financial Institution under section 4(A) of the Companies Act
1997 We signed our first loan agreement with Asian Development Bank for line of credit of US$100 million
2008 Reserve Bank of India granted a certificate of registration to our Company to commence/carry on the business of non-banking financial institution without accepting public deposits, and classified us as an investment and credit company
2010 We got upgraded from `Schedule C' to `Schedule B' Central Public Sector Enterprise
2015 We were granted "Mini-Ratna" (Category-I) status by MNRE
2016 We set up a 50 MW Solar Project in Kerala
2017 We became the first Indian financial institution to raise `Green Masala Bonds' listed on London Stock Exchange/Singapore Stock Exchange
2019 We issued our first subordinated debt (Tier-2 capital) aggregating to ?1,500 million
2020 We signed an MOU with SJVN to provide techno-commercial Consultancy in the field of Renewable Energy
2021 We opened branch offices in Western India (Mumbai) and Eastern India (Bhubaneswar)
2021 We signed MOUs with: (1) NHPC to provide techno-commercial consultancy in the field of renewable energy. (2) Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) to provide advisory services such as market assessment; greenfield project development; bid process management and implementation support and also debt raising services. (3) North-Eastern Electric Power Corporation Limited (NEEPCO) to provide advisory services such as market assessment; greenfield project development; bid process management and implementation support and also debt raising services. (4) Brahmaputra Valley Fertilizer Corporation Limited to provide advisory services such as market assessment; greenfield project development; bid process management and implementation support and also debt raising services. (5) THDC India Limited (THDCIL) to undertake techno-financial due diligence of renewable energy and energy efficiency & conservation projects.
2022 We signed MOUs with; (1)Goa Shipyard Limited, and Central Institute of Petrochemicals Engineering and Technology, to provide techno-commercial consultancy services in the field of renewable energy; (2)Bank of India (BOI) for co-lending/consortium lending for renewable energy project
2023 -Reserve Bank of India granted a renewed certificate of registration to our Company to commence/ carry on the business of non-banking financial institution without accepting public deposits, and classified us as an infrastructure finance company -ICRA Ratings Limited upgraded our debt instruments rating to `AAA' Stable -We signed MOUs with: (1)Bank of Maharashtra (BOM) for co-lending/consortium lending for renewable energy project (2)Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) to provide techno-commercial consultancy in the field of renewable energy; -India Ratings upgraded our debt instruments rating to `IND AAA'/Stable -DPE approved upgradation of our Company from `Schedule B' to `Schedule A' Central Public Sector Enterprise
2024
-IREDA Bags Triple Honours at 14th PSE Excellence Awards.
-IREDA Signing of MoU with Punjab National Bank for Co-Financing Green Energy Projects.
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