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 Transport

19 Dec 2025

Tripura Rail Survey Approved For Jirania–Bodhjung Link

The Ministry of Railways has approved a Final Location Survey (FLS) for a proposed new railway line between Jirania and Bodhjung Nagar in Tripura. The planned section will span 14 km and is estimated to cost around Rs 4.2 million, with the entire alignment located within West Tripura district. The approval marks a key step towards strengthening railway infrastructure and supporting industrial growth in the state. Bodhjung Nagar is Tripura’s principal industrial and commercial hub, developed mainly for resource-based industries such as rubber, bamboo and food processing. The proposed Jirania..

MCF Raebareli Rolls Out Its 15,000th Passenger Coach

The Modern Coach Factory (MCF) in Raebareli, Uttar Pradesh, has reached a major production milestone with the manufacture of its 15,000th passenger coach on December 15, the Ministry of Railways said. During the current financial year 2025–26, the unit has produced a total of 1,310 coaches so far. Established in 2007 at Lalganj in Raebareli, MCF is among India’s most advanced passenger coach manufacturing facilities. Built at a cost of around Rs 31.92 billion, the factory has an installed annual capacity of 1,000 coaches and is located about 3 km from Lalganj on the Kanpur–Raebareli Roa..

RVNL Wins Gandak River Rail Bridge Contract

Rail Vikas Nigam Limited (RVNL) has received a Letter of Award from North Eastern Railway for a major railway infrastructure project valued at Rs 1.65 billion. The contract relates to the construction of the substructure for a key railway bridge over the Gandak River. The bridge will be constructed between Paniyahwa and Valmikinagar stations as part of the doubling of the Gorakhpur Cantt–Valmikinagar railway section. Designed to enhance capacity and operational efficiency, the structure will comprise 14 spans of 61 metres each and will be supported by double D-type well foundations. The des..