Indian Renewable Energy Agency to Launch Two Subsidiaries

 


The Indian Renewable Energy Development Agency Limited (IREDA), a key non-banking financial institution of the Indian government, has announced plans to establish two groundbreaking subsidiaries. These subsidiaries are aimed at enhancing the country's renewable energy efforts and driving technological innovation.

The first subsidiary will focus on promoting Green Hydrogen and manufacturing renewable energy equipment through foreign currency financing. Green Hydrogen, a key element in India’s clean energy strategy, is seen as a game changer in decarbonizing industries and the transport sector.

The second subsidiary will cater to the growing retail market for renewable energy. It will focus on popularizing rooftop solar power generation and address business-to-consumer (B2C) segments, including electric vehicles (EVs), energy storage, and green technologies.

Both these initiatives align with India’s broader goal of achieving energy sustainability. Furthermore, with the UAE and India both prioritizing renewable energy, IREDA's new subsidiaries could open avenues for deeper collaboration, particularly in areas like green hydrogen, renewable energy financing, and technological advancements. This strategic move marks a significant step forward in the global push for clean, sustainable energy.

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