IREDA Sanctioned Loans for Electric Cars


  • Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned a loan of ₹267.67 crore to the start-up company ‘BluSmart Mobility’.
  • The loan was sanctioned for the purchase of three thousand electric cars to promote electric vehicles in the Delhi-NCR region.
  • The first tranche of ₹35.70 was distributed to the company.
  • BluSmart company is working for India's path to zero-emission mobility, improving the quality of lives of the driver-partners and continuing to provide reliable ride-hailing service to the customers.
  • IREDA is the largest lender of the Renewable Energy (RE) sector in India as it sanctioned Rs. 1,20,522 crores and supported more than 19,453 MW of RE capacity in the country.


  Facts to know:


  • IREDA is a Mini Ratna Company functions under the Ministry of New and Renewable Energy.
  • IREDA was established in 1987.
  • Union Minister of New and Renewable Energy: Mr. R. K. Singh
Indian Renewable Energy Development Agency Limited - IREDA
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