IREDA, Indian Overseas Bank tie-up for RE projects

19 Jan 2024 CW Team

The Indian Renewable Energy Development Agency (IREDA) and the Indian Overseas Bank (IOB) have signed a collaborative agreement to co-finance renewable energy projects in India. This partnership aims to accelerate the transition to sustainable energy sources and support the country's commitment to renewable energy goals.

IREDA, a leading financial institution dedicated to promoting renewable energy projects, and IOB, a prominent public sector bank, will pool their resources to provide financial assistance and facilitate the development of clean energy initiatives. The collaboration is expected to enhance the availability of funds for renewable projects, fostering the growth of the green energy sector.

The co-financing agreement emphasizes the importance of public and private sector collaboration in advancing India's renewable energy agenda. By leveraging their respective strengths, IREDA and IOB aim to mitigate financial barriers and stimulate investments in environmentally friendly projects.

The initiative aligns with India's ambitious targets for renewable energy capacity expansion and reflects the government's commitment to reducing carbon emissions. As the demand for clean energy solutions continues to rise, partnerships like these play a crucial role in driving sustainable development and addressing the challenges of climate change.

This collaboration is poised to have a positive impact on the renewable energy landscape in India, unlocking new opportunities for project developers and contributing to the nation's broader objectives of achieving energy security and environmental sustainability.

Resources

18 Sep 2025

Foundamental Launches Third Construction Tech Fund

Foundamental, a venture capital platform focused on project-based sectors such as construction, infrastructure and heavy-industry supply chains, has launched its third fund to strengthen its India and APAC presence alongside other global markets. Led by Berlin-based Managing Partners Shubhankar Bhattacharya and Patric Hellermann, the fund is expected to reach final close by end-2025. Construction and infrastructure, representing a ~$12 trillion opportunity over the next decade, remain among the least digitised global industries. This gap, Foundamental believes, presents scope for new cate..

Pavna Signs MoU with Tamil Nadu Government for Auto-Components Plant

Pavna Industries, a manufacturer of automotive components for passenger vehicles, two-wheelers, three-wheelers, commercial vehicles, and off-road vehicles, has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to establish an auto-components manufacturing facility at the Future Mobility Park in Shoolagiri, Krishnagiri District. As part of the MoU, the state government will extend support for the timely execution of the project. The facility is aimed at enhancing Pavna Industries’ manufacturing footprint, strengthening its role in the automotive ecosystem, and ..

Smartworks Unveils Largest Mumbai Campus at Intellion Park, Navi Mumbai

Smartworks Coworking Spaces, India’s largest managed office platform by area under management, has launched its largest Mumbai campus with 557,000 sq. ft. at Intellion Park, Navi Mumbai, a Tata Realty development. With this addition, Smartworks’ leased portfolio in Mumbai has crossed 1 million sq. ft. Strategically located on Thane Belapur Road, Intellion Park is set to become Navi Mumbai’s largest IT Park, supported by strong infrastructure and connectivity. The new campus, with LEED Platinum, IFC Edge, and WELL Gold pre-certifications, incorporates solar power, smart automat..