IREDA, IIFCL team up for Renewable Energy Financing Boost

06 Sep 2023 CW Team

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.

Infrastructure Urban

05 May 2026

Meghalaya And Assam Hold Talks To End Transport Stoppages In Garo Hills

Meghalaya and Assam have opened talks aimed at ending recent stoppages of commodity transport in the Garo Hills, officials said. The deputy chief minister, in charge of home affairs, reported that both state governments are coordinating to resolve disruptions and to restore normal movement of goods. He acknowledged that misunderstandings may have contributed to the incidents and that clarification between administrative units is under way. The discussions are intended to produce practical arrangements that will allow consignments to move without hindrance while respecting local procedures. The..

Kochi Metro Records 1.375 mn Rise In Passengers In FY26

Kochi Metro recorded a marginal rise in ridership in the financial year 2025-26, carrying 1.375 mn more passengers than in the previous year. The service carried 36.8 million (mn) passengers in 2025-26 compared with 35.5 mn in 2024-25, representing a year-on-year increase of 3.9 per cent. The growth was described as distributed rather than concentrated in isolated spikes. A month-wise analysis shows steady gains across quarters. In the first quarter, ridership increased from 8.57 mn to 8.84 mn, while the second quarter rose from 9.13 mn to 9.51 mn. These trends indicated broad-based improvemen..

Ghaziabad Plans 16km Metro Link To Delhi Via Hindon Airport

Ghaziabad authorities are pursuing a 16 km metro link to Delhi that will run via Hindon Airport, and a detailed project report is under way. The plan is intended to improve connectivity between Ghaziabad and the national capital and to provide an interchange with the airport. Officials said the project is being studied to assess alignments, station locations and cost estimates ahead of formal approvals and tendering. The announcement follows the inauguration of the Delhi?Faridabad metro extension, which will offer hassle free travel for around 0.2 mn daily commuters between the national capita..