Indian Renewable Energy Development Agency Ltd (IREDA) and Punjab National Bank (PNB) have signed a MoU aimed at advancing renewable energy initiatives across the nation.

MOUs and Agreement

Indian Renewable Energy Development Agency Ltd (IREDA) and Punjab National Bank (PNB) have signed a MoU aimed at advancing renewable energy initiatives across the nation. The agreement, signed at IREDA's registered office in New Delhi, paves the way for joint efforts in co-lending and loan syndication for a diverse spectrum of renewable energy projects. The MoU comprises various provisions aimed at enhancing support for renewable energy projects. These include joint lending, loan syndication and underwriting, management of Trust and Retention Account (TRA) for IREDA borrowers, and working towards competitive terms of sanction, including pricing on IREDA borrowings. Through the collaboration, IREDA and PNB can also invest in bonds issued by either organization.


      IREDA is well-positioned to fund large-scale renewable energy projects, aligning with the Hon’ble Prime Minister’s COP26 announcement to achieve a 500 GW Non-Fossil-based electricity generation capacity by 2030.

      These MoUs similarly focus on co-lending and loan syndication for a wide range of Renewable Energy projects across the country.

     

 

     


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