Combating climate change through the promotion of renewables

IREDA (Indian Renewable Energy Development Agency) is a public financial institution set up by the government of India to promote renewable energy development and energy efficiency projects.In order to assist the institution in achieving its goals, AFD has provided IREDA with financial and technical support. This funding has gone a long way in  promoting a range of renewable energy projects led by independent energy producers.The first funding awarded to IREDA in 2010 (EUR 10 million credit line) resulted in the implementation of eleven projects, ranging from biomass to small-scale hydroelectricity, wind farms, and solar photovoltaic projects.This success has led AFD and IREDA to renew and extend the scope of their cooperation. In 2013, AFD allocated to IREDA a new credit line of EUR 100 million, with a focus on the development of solar power plants.A technical assistance programme has been implemented together with this line of credit.