IREDA and Punjab National Bank (PNB) have signed an MoU aiming to boost India’s renewable energy sector. The agreement includes provisions for joint lending, loan syndication, and investment in bonds issued by either organization. The collaboration, aligned with India’s COP26 commitment,
aims to provide robust financial support for diverse renewable energy projects, fostering sustainability and environmental consciousness. This strategic alliance strengthens IREDA’s partnerships with leading financial institutions, emphasizing co-lending and loan syndication to propel nationwide renewable energy projects.
Commenting on the strategic alliance, Shri Pradip Kumar Das, CMD of IREDA, highlighted IREDA’s alignment with Government’s COP26 commitment to achieve a 500 GW Non-Fossil-based electricity generation capacity by 2030.
This collaboration further solidifies IREDA’s partnerships with leading financial institutions, including Bank of Baroda, Union Bank of India, Bank of India, India Infrastructure Finance Company Limited, Bank of Maharashtra, and Indian Overseas Bank. These MoUs share a common focus on co-lending and loan syndication to propel renewable energy projects nationwide.
