#### Important Highlights
- IREDA, a Government of India-owned non-banking financial company (NBFC), focuses on financing renewable energy projects.
- It received Navratna status from the Department of Public Enterprises in April 2024.
- IREDA has a comprehensive suite of financial products and services for the renewable energy sector.
- Highest Credit Rating of βAAA/Stableβ. Equity Infusion of βΉ 1500 Cr by GOI during Year 2022. Launches Retail Division:Targets PM-KUSUM, Rooftop Solar and other B2C Segments just this year.
### Industry Outlook:
- Global RE capacity today is 4140 GW and is expected to grow 11000 GW till year 2030.
- 100+ Countries have pledged to triple RE capacity by 2030.
- This will require 35 Tr USD investment which is around the combined GDP of the US and China.
- The renewable energy sector is expected to grow significantly, driven by government policies and global commitments to reduce carbon emissions.