IREDA, Indian Overseas Bank forge partnership for RE funding

19 Jan 2024 CW Team

The state-owned Indian Renewable Energy Development Agency (IREDA) unveiled collaboration with Indian Overseas Bank (IOB) to jointly fund renewable energy projects in India. The formal agreement, inked in the national capital, was attended by IREDA CMD Pradip Kumar Das and IOB MD and CEO Ajay Kumar Srivastava, according to an official statement.

The memorandum of understanding (MoU) signed between IREDA and Indian Overseas Bank marks the beginning of a partnership facilitating co-lending and loan syndication for a diverse range of renewable energy projects nationwide, the statement explained.

IREDA's CMD emphasised, "Through the consolidation of our strengths and resources, our goal is to provide robust financial support to renewable energy projects. This collaboration seeks to streamline loan syndication and underwriting processes, manage Trust and Retention Account (TRA) for IREDA borrowers, and establish fixed interest rates over a 3-4-year period for IREDA borrowings."

Highlighting IREDA's track record of successful collaborations with leading financial institutions like Bank of Baroda, Bank of India, Union Bank of India, India Infrastructure Finance Company Limited, and Bank of Maharashtra, Das emphasised the expansion of partnerships in the renewable energy sector.

IREDA, operating under the Ministry of New and Renewable Energy, serves as a non-banking financial institution dedicated to promoting, developing, and extending financial assistance for projects related to new and renewable sources of energy, as well as energy efficiency and conservation.

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

GROHE Showcases Water-Led Design At Milan

GROHE unveiled its GROHE SPA Aqua Sanctuary at Milan Design Week 2026, transforming Piccolo Teatro Studio Melato into an immersive showcase of water, design and wellbeing. Built on the philosophy of ‘Wellbeing Through Water’, the installation reimagined bathrooms as holistic spaces for relaxation, rejuvenation and self-care.The Aqua Sanctuary was presented through three interconnected sanctums. The first showcased the 3D-printed GROHE SPA AquaTree shower and faucet, highlighting bespoke innovation and biophilic design. The second featured the Atrio Private Collection and GROHE SPA x Buster..

Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..