The Board of Directors of the Indian Renewable Energy Development Agency Limited (IREDA), in its meeting held on Thursday, March 28, 2024, approved a Borrowing programme of up to ₹24,200 Crore for the fiscal year 2024-25. This comprehensive borrowing plan encompasses a variety of avenues for fundraising. These include issuing Taxable Bonds, Green Taxable Bonds, Subordinated Tier-II Bonds, Perpetual Debt Instruments (PDI), Green Masala Bonds, Green Foreign Currency Bonds (USD/EUR/JPY), Foreign Currency Bonds (USD/EUR/JPY), as well as obtaining term loans from domestic banks and financial institutions (FIs). Additionally, IREDA plans to secure lines of credit from international agencies and engage in both public and private placements of Tax-free bonds, Capital Gains Bonds, Commercial Papers, Short-term loans, Cash Credit (CC), Working Capital Demand Loans (WCDL) from banks. Furthermore, the borrowing program also includes obtaining Foreign Currency Non-Resident (FCNR -B) Loans from banks and External Commercial Borrowings (ECB) from the domestic and/or international financial market.
Furthermore, the Ministry of New & Renewable Energy (MNRE), through its Office Order dated March 27, 2024, has conveyed the Order of Appointments Committee of the Cabinet (ACC) dated March 15, 2024, regarding the Entrustment of additional charge of the post of Director (Technical), IREDA, to Shri Bijay Kumar Mohanty, Director (Finance), IREDA. This additional responsibility is assigned for a period of 6 (six) months from March 5, 2024, or until the appointment of a regular incumbent, or until further orders, whichever occurs earliest. The Board has duly taken note of this development. Previously, the additional charge of the post of Director (Technical) was held by Shri Pradip Kumar Das, Chairman and Managing Director, IREDA, until March 4, 2024.