IREDA approves Rs 0.58 billion loan under component-B of PM-KUSUM

The Indian Renewable Energy Development Agency (IREDA) has launched its retail segment, aiming to enhance its focus on lending to consumers under the Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM) scheme, rooftop solar and various business-to-consumer sectors. The retail division of IREDA has approved its first loan under PM-KUSUM, Component B, totalling Rs 0.58 billion. IREDA has taken a notable step in sustainable investing by recommending an allocation of 1-2 per cent of assets under management from domestic pension and insurance funds to renewable energy bonds. This strategic initiative is designed to strengthen bond markets, encouraging increased domestic and international investment.