December 2016 Current Affairs

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IREDA may be converted into a Green Bank

IREDA may be converted into a Green Bank
05 May 2016 Current Affairs: State-run Indian Renewable Energy Development Agency (IREDA) might be converted into a Green Bank to enable it to access funding from overseas banks .

IREDA might be converted in to Green Bank without under going any altercation in its basic structure to enable it access funding from overseas banks that are currently not supporting the solar and wind funding, barring well-known KFW, IREDA With IREDA conversion into Green Bank, it would be entitled to avail of certain benefits, which the agency is currently deprived of and the proposal is being well supported by the Union Power Ministry .

Large banks in India are perhaps reluctant to fund the solar and wind projects though no developer in these two segments have defaulted on re-payment though might have delayed the pay off schedule .Council on Energy, Environment and Water (CEEW), and Natural Resources Defense Council said that India's goal to ramp up solar and wind energy capacity could get a major boost through two fast-growing financing innovations green banks and green bonds. 

The clean energy target is the centrepiece of India's climate pledge announced in the international Paris climate agreement recently signed by more than 170 countries at the United Nations. 

IREDA, an arm of the Indian government, currently appears to be the closest institutionally to a green bank, the report notes. Yet, opportunities for state level banks also appear promising. 

Green banks are public entities created to work with the private sector to increase investment in clean energy and bring clean energy financing into the mainstream. They are innovative and new tools that have been successful in the United Kingdom, Australia, Japan, Malaysia and several US. states. 


December 2016 Current affairs

November 2016 Current affairs
30 NOV
NEWS
29 NOV
NEWS
28 NOV
NEWS
26 NOV
NEWS
25 NOV
NEWS
24 NOV
NEWS




October 2016 Current affairs
31 OCT
NEWS
27 OCT
NEWS
26 OCT
NEWS
25 OCT
NEWS
24 OCT
NEWS
22 OCT
NEWS

September 2016 Current affairs
30 SEP
NEWS
29 SEP
NEWS
28 SEP
NEWS
27 SEP
NEWS
26 SEP
NEWS
24 SEP
NEWS

August 2016 Current affairs
31 AUG
NEWS
30 AUG
NEWS
29 AUG
NEWS
27 AUG
NEWS
26 AUG
NEWS
25 AUG
NEWS



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