+
IREDA, IIFCL team up for Renewable Energy Financing Boost
POWER & RENEWABLE ENERGY

IREDA, IIFCL team up for Renewable Energy Financing Boost

Indian Renewable Energy Development Agency (IREDA) has entered into a Memorandum of Understanding (MoU) with India Infrastructure Finance Company (IIFCL) to bolster financial support for renewable energy projects. According to the Ministry of New and Renewable Energy, this MoU will empower both organisations to collaborate in co-lending, co-origination, and loan syndication across all categories of renewable energy projects, including small hydro projects. Additionally, they aim to stabilise interest rates for IREDA borrowings over a three to four-year period. Furthermore, IIFCL may consider investments in IREDA-issued bonds, subject to the terms and conditions of the issuance.

The MoU signing ceremony featured S Pradip Kumar Das, Chairman and Managing Director of IREDA, and P R Jaishankar, Managing Director of IIFCL. CMD, IREDA expressed his enthusiasm for the partnership, emphasising that it will leverage their technical and financial expertise to support the development of the renewable energy sector. This collaboration aligns with the government of India's goal of achieving a 50% share of non-fossil fuel energy by 2030, contributing to Prime Minister Narendra Modi's vision of Aatmanirbhar Bharat and a sustainable, eco-friendly India.

IREDA established a dedicated Business Development and Consultancy division two years ago to address the increasing demand in the Renewable Energy sector. In the past, IREDA has forged MoUs with various central and state agencies. This particular MoU will synergise IREDA's expertise in green financing with IIFCL's proficiency in infrastructure financing.

Indian Renewable Energy Development Agency (IREDA) operates as a Public Sector Undertaking (PSU) under the Ministry of New and Renewable Energy (MNRE), while India Infrastructure Finance Company (IIFCL) is a wholly-owned government of India entity established in 2006 to provide long-term financial support to viable infrastructure projects.

Indian Renewable Energy Development Agency (IREDA) has entered into a Memorandum of Understanding (MoU) with India Infrastructure Finance Company (IIFCL) to bolster financial support for renewable energy projects. According to the Ministry of New and Renewable Energy, this MoU will empower both organisations to collaborate in co-lending, co-origination, and loan syndication across all categories of renewable energy projects, including small hydro projects. Additionally, they aim to stabilise interest rates for IREDA borrowings over a three to four-year period. Furthermore, IIFCL may consider investments in IREDA-issued bonds, subject to the terms and conditions of the issuance.The MoU signing ceremony featured S Pradip Kumar Das, Chairman and Managing Director of IREDA, and P R Jaishankar, Managing Director of IIFCL. CMD, IREDA expressed his enthusiasm for the partnership, emphasising that it will leverage their technical and financial expertise to support the development of the renewable energy sector. This collaboration aligns with the government of India's goal of achieving a 50% share of non-fossil fuel energy by 2030, contributing to Prime Minister Narendra Modi's vision of Aatmanirbhar Bharat and a sustainable, eco-friendly India.IREDA established a dedicated Business Development and Consultancy division two years ago to address the increasing demand in the Renewable Energy sector. In the past, IREDA has forged MoUs with various central and state agencies. This particular MoU will synergise IREDA's expertise in green financing with IIFCL's proficiency in infrastructure financing.Indian Renewable Energy Development Agency (IREDA) operates as a Public Sector Undertaking (PSU) under the Ministry of New and Renewable Energy (MNRE), while India Infrastructure Finance Company (IIFCL) is a wholly-owned government of India entity established in 2006 to provide long-term financial support to viable infrastructure projects.

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?