Question
Download Solution PDFConsider the following statements regarding the Indian Renewable Energy Development Agency Limited (IREDA) :
I. It is a Navratna Enterprise of Government of India.
II. It aims to give financial support to schemes for generating electricity through new and renewable sources and conserving energy through energy efficiency.
III. It works directly under the administrative control of the Ministry of New and Renewable Energy (MNRE).
Which of the statements given above is/are correct?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- The Indian Renewable Energy Development Agency Limited (IREDA) is not a Navratna Enterprise; it is a Mini-Ratna (Category – I) Government of India Enterprise.
- IREDA's primary aim is to provide financial support for projects that generate electricity through new and renewable sources of energy.
- It also focuses on energy conservation through energy efficiency projects.
- IREDA operates under the administrative control of the Ministry of New and Renewable Energy (MNRE).
Additional Information
- Navratna and Mini-Ratna Enterprises:
- Navratna and Mini-Ratna statuses are given to public sector enterprises in India based on their financial performance and autonomy.
- Navratna status provides greater autonomy in investment decisions and other operational matters compared to Mini-Ratna.
- Mini-Ratna enterprises are further classified into Category I and Category II based on their financial performance.
- Ministry of New and Renewable Energy (MNRE):
- The MNRE is the nodal Ministry of the Government of India for all matters related to new and renewable energy.It is responsible for the development and deployment of new and renewable energy sources.
- It aims to promote clean energy sources and reduce dependence on fossil fuels.
- IREDA's Role:
- IREDA promotes renewable energy projects in India by providing financial assistance.
- It supports projects in solar, wind, biomass, small hydro, and other renewable energy sectors.
- IREDA also focuses on projects that enhance energy efficiency and conservation.
Last updated on Jun 18, 2025
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