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IREDA Establishes New Office in GIFT City for Foreign Currency Renewable Energy Projects

Published on April 22, 2024
Current Context: The Indian Renewable Energy Development Agency Ltd. (IREDA) has indeed opened a new office in GIFT City, Gandhinagar.
IREDA Establishes New Office in GIFT City for Foreign Currency Renewable Energy Projects
  • This office will specialize in providing debt options denominated in foreign currencies.
  • This strategic initiative is expected to facilitate natural hedging and significantly reduce the financing costs for Green Hydrogen and Renewable Energy Manufacturing projects.
  • This was announced by the Chairperson & Managing Director of IREDA, Shri Pradip Kumar Das, during a panel discussion on “Future Growth Opportunities for Long Duration Energy Storage”, held at the World Future Energy Summit 2024 in Abu Dhabi on April 17, 2024.
  • The IREDA CMD emphasized the critical role that energy storage will play in achieving the National Green Hydrogen Mission’s ambitious target of over 5 million metric tons per annum (MTPA) Hydrogen production by 2030.
  • He highlighted several key priorities for advancing storage technologies.
  • IREDA has been at the forefront of renewable energy financing through the provision of innovative products for emerging technologies at competitive rates and is committed to support the deployment of energy storage technologies in India.

Question:

Q.1 Where has the Indian Renewable Energy Development Agency Ltd. (IREDA) opened a new office?
a. Delhi
b. Mumbai
c. GIFT City, Gandhinagar
d. Bangalore
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