The IFSCA has granted provisional registration to IREDA Global Green Energy Finance IFSC Limited, a wholly owned IREDA subsidiary, as a finance company at GIFT City.
This announcement was made in the presence of key officials including Shri Pralhad Joshi, the Union Minister for New and Renewable Energy, who emphasized the role of GIFT City in India’s goal of becoming a developed nation by 2047.
Shri Pradip Kumar Das, CMD of IREDA, celebrated the new subsidiary at GIFT City as a major step for global green financing. He noted that it will help attract funding and foster international partnerships, aligning with Prime Minister Modi’s view of GIFT City as a gateway to global opportunities. Also present were senior officials from IFSCA and Bank of Baroda.
The launch aims to expand IREDA’s global reach. S&P Global Ratings recently gave IREDA a ‘BBB-‘ long-term and ‘A-3’ short-term rating, reflecting strong government support.