With a view to accelerating the growth of renewable energy in India, Indian Renewable Energy Development Agency Ltd. (IREDA) has signed Memorandums of Understanding (MoUs) with Union Bank of India (UBI) and Bank of Baroda (BoB).
Under the agreements, IREDA will collaborate with UBI and BoB, in co-lending and loan syndication for a wide range of renewable energy projects, including both established and emerging RE technologies.
This collaboration aims to extend IREDA’s reach, particularly in tier-2 & tier-3 cities and rural areas.
About IREDA
- Indian Renewable Energy Development Agency Limited (IREDA) is a Mini Ratna (Category – I) Government of India Enterprise under Government of India and administratively controlled by the Ministry of New and Renewable Energy (MNRE).
- IREDA is formed in 1987.
- IREDA is formed for promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.
- It is a Mini Ratna (Category – I) Government of India Enterprise with the objective of promoting, developing and extending financial assistance and under the administrative control of Ministry of New and Renewable Energy (MNRE).
