+
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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code