In a significant move, the Mahatma Phule Renewable Energy and Infrastructure Technology Ltd. (MAHAPREIT) and the Indian Renewable Energy Development Agency Ltd. (IREDA) has been signed a memorandum of understanding (MoU) to provide loans for green energy projects. As part of this partnership, IREDA will also do techno-financial due diligence on MAHAPREIT‘s initiatives involving renewable energy and energy efficiency and conservation.
The Chairman & Managing Director (CMD) of IREDA, Shri Pradip Kumar Das, and the CMD of MAHAPREIT, Shri Bipin Shrimali, both signed the MoU.
It is noteworthy that MAHAPREIT is a fully owned subsidiary of MPBCDC, 49% owned by the Government of India and 51% owned by the Government of Maharashtra.
According to the terms of the Memorandum of Understanding, IREDA will provide MAHAPREIT with financing options for the renewable energy projects that will be developed for public utilities, local governments, and the infrastructure of renewable energy parks.
