GG News Bureau
New Delhi, 5th Sept. Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a Memorandum of Understanding (MoU) with India Infrastructure Finance Company Ltd (IIFCL), to finance renewable energy projects.
The MoU will empower IREDA and IIFCL to engage in Co-Lending / Co-Origination and Loan Syndication for all categories of Renewable Energy projects, including Small Hydro projects.
Both organisations will strive to also fix interest rates for IREDA borrowings for a period of three to four years. Further, IIFCL may invest in the bonds issued by IREDA, as per the terms and conditions of the issue.
The MoU was signed today, September 4, 2023, by Chairman & Managing Director, IREDA, Shri Pradip Kumar Das and Managing Director, IIFCL, Shri P R Jaishankar.
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