Indian Renewable Energy Development Agency Ltd Company History

Incorporated as a public limited company

The GoI notified our Company as Public Financial Institution under section 4(A) of the Companies Act

We signed our first loan agreement with Asian Development Bank for line of credit of US$100 million

Reserve Bank of India granted a certificate of registration to our Company to commence/carry on the business of non-banking financial institution without accepting public deposits, and classified us as an investment and credit company

We got upgraded from ‘Schedule C’ to ‘Schedule B’ Central Public Sector Enterprise

We were granted Mini-Ratna” (Category-I) status by MNRE

We set up a 50 MW Solar Project in Kerala

We became the first Indian financial institution to raise ‘Green Masala Bonds’ listed on London Stock Exchange/Singapore Stock Exchange

We issued our first subordinated debt (Tier-2 capital) aggregating to ?1,500 million

We signed an MOU with SJVN to provide techno-commercial Consultancy in the field of Renewable Energy

We opened branch offices in Western India (Mumbai) and Eastern India (Bhubaneswar)

We signed MOUs with;

(1)Goa Shipyard Limited, and Central Institute of Petrochemicals Engineering and Technology, to provide techno-commercial consultancy services in the field of renewable energy;

(2)Bank of India (BOI) for co-lending/consortium lending for renewable energy project

Reserve Bank of India granted a renewed certificate of registration to our Company to commence/ carry on the business of non-banking financial institution without accepting public deposits, and classified us as an infrastructure finance company

ICRA Ratings Limited upgraded our debt instruments rating to ‘AAA’ Stable

We signed MOUs with:

(1)Bank of Maharashtra (BOM) for co-lending/consortium lending for renewable energy project

(2)Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) to provide techno-commercial consultancy in the field of renewable energy;

India Ratings upgraded our debt instruments rating to ‘IND AAA’/Stable

DPE approved upgradation of our Company from ‘Schedule B’ to ‘Schedule A’ Central Public Sector Enterprise