What is the News?
Indian Renewable Energy Development Agency(IREDA) has been conferred with “Green Urja Award”.
About Green Urja Award:
- The Indian Chamber of Commerce(ICC) has launched the Green Urja Award .
- ICC was founded in 1925. It is a premier body of business and industry in Eastern and North-Eastern India.
- The award has been conferred to the IREDA for being the Leading Public Institution in Financing Institution for Renewable Energy.
- Indian Renewable Energy Development Agency(IREDA) is a Mini Ratna Enterprise of the Government of India. It was founded in 1987.
- Purpose: IREDA promotes, develops, and extends financial assistance for setting up projects relating to new and renewable sources of energy.
- Nodal Ministry: It comes under the administrative control of the Ministry of New and Renewable Energy (MNRE).
- Registered under: IREDA has been notified as a Public Financial Institution under Companies Act,1956. It is registered as Non-Banking Financial Company(NFBC) with Reserve Bank of India(RBI).
- Motto: IREDA’s Motto is “Energy for Ever.”
- Significance: It is the only dedicated institution for financing Renewable Energy (RE) & Energy Efficiency (EE) projects in India.