Answer the question in maximum 15 to 20 words. This question carries 03 marks.[MPPSC 2023]
What is the full form of ‘IREDA’?
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The full form of ‘IREDA’ is the “Indian Renewable Energy Development Agency.” Established in 1987, IREDA is a public sector financial institution under the Ministry of New and Renewable Energy (MNRE) in India. Its primary objective is to promote and finance renewable energy projects and the development of sustainable energy technologies. IREDA provides financial assistance through loans and grants to various stakeholders, including private companies, government agencies, and non-governmental organizations, to facilitate the growth of renewable energy sources such as solar, wind, and biomass. By supporting these initiatives, IREDA plays a vital role in India’s transition to a sustainable energy future.