Indian Renewable Energy Dev. Agency Annual Financial Report (7512C)

TIDM89NA

RNS Number : 7512C

Indian Renewable Energy Dev. Agency

19 June 2019

19(th) June 2019

Publication of Audited Annual Financial Results for the year ended 31.03.2019

The Board of Directors of Indian Renewable Energy Dev. Agency has approved the Audited Annual Financial Results as on 31.03.2019 in its 316(th) Board meeting held on 30.05.2019 at its registered office in New Delhi. The same is available on the Company's website through the following link: http://www.ireda.in/writereaddata/IT%20Format'.pdf

Chief Financial Officer

Mr. Satish Kumar Bhargava

Tel: [phone]

Fax: [phone]

E-mail: [e-mail]

For investor enquiries please contact:

Mr. Surender Suyal, Company Secretary & Additional General Manager (Finance & Accounts)

Tel: [phone]

Email: [e-mail]

NOTES TO EDITORS

About Indian Renewable Energy Development Agency (IREDA)

We are a 100% Government of India ("GoI") owned enterprise under the administrative control of the Ministry of New and Renewable Energy (the "MNRE) with more than 32 years of experience in the Indian renewable energy sector. We provide financial assistance to renewable energy projects, companies and manufacturers in India for power generation, equipment supply and fuel source projects including wind power, solar power, hydro power, biomass, co-generation and waste to energy as well as energy efficiency and conservation. Our comprehensive suite of financial products and services includes various fund-based financial products including long-term and short-term project and manufacturing loans, take out financing, bridge loans and bill discounting, and non-fund based assistance like performance guarantees, letters of comfort, letters of undertaking and refinancing schemes. In addition to our financial products and services, we have also set up our own 50 MW Solar Photovoltaic Project in 200 MW Kasaragod Solar Park in the state of Kerala.

We were established as an integral part of and have played a strategic role in the GoI's initiatives for the promotion and development of the renewable energy sector in India and have been involved in the development and implementation of various policies and structural and procedural reforms in the renewable energy sector. Under the IREDA-NCEF Refinancing Scheme we utilize funds received from the National Clean Energy Fund ("NCEF") to refinance renewable energy projects for bio-mass (up to 10MW) and small hydro (up to 5MW). We have also been involved in various GoI programs for the development of renewable energy sector including the Wind GBI Scheme, the Solar GBI Scheme and the Solar Water Heating System Capital Subsidy Scheme.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

ACSSFWSAUFUSEDM

(END) Dow Jones Newswires

June 19, 2019 04:39 ET (08:39 GMT)