New Delhi: State-owned Indian Renewable Energy Development Agency Ltd (IREDA) announced on Tuesday that it has successfully raised ₹910.37 crore through the issuance of privately placed subordinated Tier-II bonds. The bonds, issued for a 10-year tenure, carry an annual coupon rate of 7.74%.

The funds raised will strengthen IREDA’s Tier-II capital, enhancing its net worth and improving its capital-to-risk-weighted assets ratio (CRAR), the company stated.

IREDA Chairman and Managing Director (CMD) Pradip Kumar Das highlighted that the successful capital infusion reflects investors’ confidence in the company’s financial stability and strategic vision. “This will further empower us to accelerate green energy financing, aligning with the Government of India’s target of achieving 500 GW of non-fossil fuel-based energy capacity by 2030,” Das said.

IREDA, a non-banking financial institution under the Ministry of New and Renewable Energy, plays a crucial role in funding renewable energy projects across the country.