New Delhi [India], Indian Renewable Energy Development Agency Limited (IREDA) has incorporated a wholly owned subsidiary named “IREDA Global Green Energy Finance IFSC Limited” in the International Financial Services Center (IFSC) located at GIFT City, Gujarat. " Is placed. After receiving the no-objection letter from the Reserve Bank of India on February 8, 2024, to set up the finance company in IFSC GIFT City to be officially incorporated on May 7, 2024, IREDA Chairman and Managing Director Pradeep Kumar Das said that IREDA's presence at GIFT City marks an important step in its mission to pioneer innovative approaches to green financing. This subsidiary not only positions IREDA to extend its global reach, but also serves as an offshore platform to secure competitive funding to advance the development of the renewable energy sector. Government of India's ambitious 'Panchamrit' targets He said IREDA's entry into IFSC is expected to open up fresh business opportunities and establish its global presence in the renewable energy sector. “This strategic move is in line with our vision to facilitate sustainable growth.” Renewable energy investments, both domestically and internationally. With the presence of IREDA in IFSC, we expect greater access to innovative financing options and better collaboration with international investors, thereby encouraging the progress of renewable energy projects in the country and abroad. The company, which promotes and provides financial assistance to the development of renewable energy and energy efficiency projects.