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+--- Thread: IREDA to Launch Subsidiary for Financing Small-Scale Renewable Energy Projects (/thread-554.html)
IREDA to Launch Subsidiary for Financing Small-Scale Renewable Energy Projects - Harpreet - 16-08-2024
The update from media sources indicates that the Indian Renewable Energy Development Agency (IREDA) is planning to establish a new subsidiary specifically to finance the alternative energy needs of small businesses and retail customers. This subsidiary will focus on funding projects like rooftop solar panels and bioenergy initiatives.
### Key Points:
- **Target Market:** Small businesses and retail customers.
- **Focus Projects:** Rooftop solar panels and bioenergy projects.
- **Business Model:** The new subsidiary will not directly lend to customers but will instead engage in **refinance partnerships** with Non-Banking Financial Companies (NBFCs). These NBFCs will provide loans directly to borrowers, with the subsidiary supporting them by refinancing these loans.
This move is expected to boost the accessibility of financing for small-scale renewable energy projects, facilitating broader adoption and contributing to the growth of the green energy sector.