Is the Indian Renewable Energy Development Agency (IREDA) still lending for electric vehicles and charging, and what continues under its new technologies policy?
IREDA's norms updated to 1 October 2026 say funding for electric mobility, charging and electric vehicle manufacturing is on hold, under a board approval of 25 March 2026, and will be reviewed periodically. Other technologies in the same policy continue, including battery storage, green hydrogen and fuel cells.
What the document says is on hold
- The note at the top of the comprehensive policy for new technologies says funding of the green mobility segment, meaning e-mobility and related electric vehicle (EV) charging infrastructure including manufacturing or assembling plants of electric vehicles and associated components, is put on hold as per the 460th Board meeting approval dated 25.03.2026. It will be reviewed periodically. The note adds that all other new technologies eligible under the policy will continue.
- The revision table, entry 48 dated 25 March 2026, also puts on hold the ethanol distillery scheme and the Guarantee Assistance Scheme for suppliers, manufacturers, engineering, procurement and construction (EPC) contractors and developers.
What continues
- Battery energy storage systems and manufacturing of batteries.
- Projects producing green hydrogen and its derivatives, including components and materials that directly support renewable energy, green technologies, electric vehicles or green hydrogen.
- Fuel cells.
- Waste recycling units that meet the needs of the renewable energy, electric mobility and battery storage segments.
- Terms printed for these: up to 70% of project cost from IREDA, at least 30% promoter contribution, moratorium up to 1.5 years. Repayment is up to 7 years for manufacturing, and up to 80% of the concession or agreement period for battery storage, green hydrogen production and fuel cells, never beyond 20 years.
- Additional securities may be stipulated, one or more of: a corporate guarantee, a personal guarantee, a pledge of at least 51% of the applicant's shares, or 20% of the loan amount in a bank guarantee, fixed deposit or property.
Where the printed text still names the paused areas
The technology list under the policy still prints manufacturing and assembling of electric vehicles and associated components, and the policy still carries a section of terms for fleet owners and charging infrastructure owners, who must be a company incorporated in India. These sit under the hold note. My reading: do not plan an EV or charger loan on these lines until IREDA says the hold has ended.
A related exclusion in the same document
The list of eligible sectors covers manufacturing for renewable energy products and components, except solar photovoltaic (PV) module manufacturing on a standalone basis. Revision entry 49, dated 12 June 2026, reads differently in its two columns: the left column says PV module manufacturing loans were approved on 12.06.2026, and the right column says to stop PV module manufacturing loans on a standalone basis. My reading: the sector list and the right column agree, so treat standalone module manufacturing as excluded, and confirm with IREDA.
Example: the 70:30 split on a continuing line
- Project cost: rupees (Rs) 10 crore
- IREDA loan at the 70% maximum: 10 x 0.70 = Rs 7 crore
- Promoter contribution at the 30% minimum: 10 x 0.30 = Rs 3 crore
- Possible bank guarantee or fixed deposit at 20% of the loan: 7 x 0.20 = Rs 1.4 crore
The project cost is an example. The document lists the 20% as one of several additional securities that may be stipulated.
What Senseible does here
Senseible reads fuel invoices and electricity bills into monthly records, so a fleet's diesel purchases before a switch are read into monthly records. It does not lend and cannot say whether a lender's line is open.
- What lenders ask for an EV fleet loan
- Green loan for electric delivery vehicles
- IREDA loan for a proprietorship or partnership
- Green loan schemes for MSMEs
Last reviewed 2026-11-05. The hold is to be reviewed periodically. Check IREDA's latest issue of the norms before you rely on this. The PV module entry (revision 49) reads differently in its two columns, as explained above.