According to an exchange filing by IREDA, IREDA Global Green Energy Finance IFSC Limited has been granted a Certificate of Registration by the International Financial Services Centres Authority (IFSCA). This registration allows the company to engage in financial activities within the International Financial Services Centre (IFSC) at GIFT City.
The regulatory approval, initially conveyed through a letter dated September 4, 2024, marks a key milestone for IREDA’s international expansion strategy. With this recognition, the subsidiary is poised to facilitate financing solutions specifically tailored for the renewable energy sector on a global scale, utilising the advantages of India’s first IFSC at GIFT City.
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IREDA, which operates under the Ministry of New and Renewable Energy, plays a crucial role in funding renewable energy projects across the country. By extending its footprint to GIFT City, the organisation aims to tap into international financial markets and promote sustainable energy investments.
GIFT City, India’s premier global financial hub, provides a conducive environment for financial institutions with its tax incentives, regulatory ease, and access to international markets. Establishing a presence in this ecosystem is expected to enhance IREDA’s ability to attract foreign capital and drive green energy financing.
IREDA’s initiative aligns with the Indian government’s broader vision of accelerating renewable energy adoption and achieving ambitious clean energy targets. By securing this registration, IREDA Global Green Energy Finance IFSC Limited is well-positioned to support the financing needs of renewable energy developers and investors in India and beyond.
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The development underscores IREDA’s commitment to fostering sustainable financial mechanisms and expanding its role in the global renewable energy financing landscape.
(With inputs from PTI)
