Collaboration for financial support to existing and new customers
Indian Renewable Energy Development Agency Ltd (IREDA) continues to work financing partnerships to build the renewable energy capacity across the country.
IREDA has signed Memorandums of Understanding (MoUs) with Union Bank of India (UBI) and Bank of Baroda (BoB) on 5 Sept 2023 for co-lending and loan syndication for a wide range of renewable energy projects, including both established and emerging RE technologies.
IREDA CMD Pradip Kumar Das said, “Both Union Bank of India and Bank of Baroda have an extensive nationwide presence with a vast network of branches.
“This collaboration aims to extend our reach, particularly in tier-2 & tier-3 cities and rural areas, enabling us to provide unique and innovative financial support to existing and new customers.
“We are confident that by combining our strengths and resources, we will continue to serve our customers in alignment with the vision of the Prime Minister for Atmanirbhar Bharat and sustainable growth.”
In recent years, IREDA has been actively encouraging partnerships with various Central and State agencies as well as financial institutions to leverage its techno-financial expertise for the development of the renewable energy sector. Fiinews.com
