New Delhi, Mar 25 (PTI) State-owned IREDA on Tuesday said it has raised Rs 910 crore through issuance of bonds.

The funds raised will enhance IREDA's Tier-II capital, increasing its net worth and capital-to-risk-weighted assets ratio (CRAR), IREDA said in a statement.

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IREDA has raised Rs 910.37 crore through the issuance of privately placed subordinated Tier-II bonds for a 10-year tenor at an annual coupon rate of 7.74 per cent, it said.

"The successful raising of Tier-II capital reflects investors' strong confidence in IREDA's financial strength and strategic vision.

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"This will further empower us to accelerate green energy financing, aligning with the Government of India's target to achieve 500 GW of non-fossil fuel-based energy capacity by 2030," IREDA Chairman and Managing Director (CMD) Pradip Kumar Das said.

Indian Renewable Energy Development Agency Ltd (IREDA) is a non-banking financial institution under the Ministry of New and Renewable Energy.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)