https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

IREDA and Indian Overseas Bank Collaborate to Co-Finance Renewable Energy Projects

This collaboration builds upon IREDA's successful partnerships with other prominent financial institutions
Indian Masterminds Stories

Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a Memorandum of Understanding (MoU) with Indian Overseas Bank (IOB), paving the way for joint efforts in co-lending and loan syndication for a wide range of renewable energy projects across the country. The MoU covers a wide range of services, including provisions for co-lending and co-origination support for all renewable energy projects. The partnership’s goal is to improve loan syndication and underwriting processes, manage Trust and Retention Accounts (TRA) for IREDA borrowers, and work toward stable interest rates for IREDA borrowings over a three to four-year timeframe.

The agreement was inked at IREDA’s Business Centre in New Delhi on 16 January, 2024, by General Manager, IREDA, Dr. R. C. Sharma and Chief Regional Manager, IOB, Shri Anil Kumar in the presence of Chairman & Managing Director of IREDA, Shri Pradip Kumar Das; MD & CEO of IOB, Shri Ajay Kumar Srivastava; and Director (Finance), IREDA, Dr. Bijay Kumar Mohanty.

Speaking about the MoU, CMD, IREDA Shri Pradip Kumar Das stated: “This strategic partnership between IREDA and Indian Overseas Bank marks a significant step in our commitment to accelerate the growth of renewable energy in the country. By combining our strengths and resources, we aim to provide robust financial support to a diverse range of Renewable Energy projects, fostering sustainability and environmental awareness. Through the MoU and prior agreements with other leading financial institutions, IREDA is well-positioned to fund large-scale renewable energy projects, aligning with the Hon’ble Prime Minister’s COP26 announcement of achieving a 500 GW Non-Fossil-based electricity generation capacity by 2030.”

This collaboration builds upon IREDA’s successful partnerships with other prominent financial institutions, including Bank of Baroda, Bank of India, Union Bank of India, India Infrastructure Finance Company Limited and Bank of Maharashtra. These MoUs similarly focus on co-lending and loan syndication for a wide range of Renewable Energy projects across the country.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
MP-Police-
Madhya Pradesh IPS Transfers: 7 Senior Officers Shifted in Midnight Reshuffle; Rajababu Singh, Irshad Wali Among Key Names
Powergrid
POWERGRID Strengthens National Grid Connectivity with Acquisition of 2 Key TBCB Projects Worth ₹3,375 Crore
CM Nitish Kumar
Bihar’s Bold Leap: CM Nitish Kumar Pledges 1 Crore Jobs and Women’s Empowerment Boost
8th pay commission
Big Breaking! 8th Pay Commission May Merge DA With Basic Pay: A Historic Salary Reform Set to Reshape Government Pay Structure
ONGC_resized
ONGC Launches 2025 Apprenticeship Program with 2,623 Vacancies — Empowering India’s Youth for Energy Sector Careers
PNB-resized
PNB Unlocks Rs 1,007 Crore by Selling 10% Stake in Canara HSBC Life Ahead of IPO — Strategic Move to Strengthen Core Operations
ONGC_resized
India’s State-Run Oil Giants Invest Rs 46,600 Crore in Five Months — ONGC and IOC Lead Push for Energy Infrastructure Growth
CIL & IIT Madras Tie Up
Coal India and IIT Madras Join Forces to Launch ‘Centre for Sustainable Energy’ — A Major Step Toward India’s Net-Zero Future
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-10-19 at 12.23
UPSC Journey Should Be Enjoyable, Not Cumbersome
WhatsApp Image 2025-10-16 at 15.16
The Many Facets of Former IRS Officer and Author, Giselle Mehta | Video Interview
IDES Saquib Alam
Beyond IAS and IPS: The Inspiring Work of an IDES officer | Video Interview 
ADVERTISEMENT
UPSC Stories
IAS Rupal Rana UPSC
How Rupal Rana Cracked UPSC CSE 2023 with AIR 26 After Four Attempts
UPSC Topper Rupal Rana secured AIR 26 in 2023 after four attempts. Learn her preparation strategy, booklist,...
Ankita Parashar RAS 2023
4 Attempts, 1 Dream, 0 Excuses: Meet RAS Topper Ankita Parashar, Who Fulfilled a Daughter’s Promise & Secured Rank 2 | Exclusive Interview
Ankita Parashar, a teacher-turned-officer from Pushkar, fulfilled her late father’s dream by securing...
Kushal Chaudhary RAS
From Lab Assistant’s Grit to Rajasthan Topper: How Kushal Chaudhary Topped RAS 2023 with Self-Study | Preparation, Strategy & Interview
Kushal Chaudhary, a farmer’s son and lab assistant from Ajmer, topped RAS 2023 through self-study, overcoming...
Social Media
IFS Parveen Kaswan
Heartbreak by the River: 15-Day-Old Elephant Calf Rejected by Mother, Rescued by IFS Parveen Kaswan and His Team
Jaldapra, West Bengal: In a moving incident that tugs at the heart, a 15-day-old elephant calf was rescued...
Ashwini Bhide IAS and Anand Mahindra
Who Is IAS Ashwini Bhide, Hailed as a Role Model for Mumbai Metro Transformation by Anand Mahindra?
From heritage to high-tech: Bhide’s leadership in Metro Line 3 earns public praise and admiration
World Rhino Day India
On World Rhino Day, IFS Officer Parveen Kaswan Shares Rare Insights - India Now Hosts 80% of the World’s One-Horned Rhinos
September 22 Marks Global Call for Rhino Conservation; India Holds 80% of World’s Greater One-Horned...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
MP-Police-
Madhya Pradesh IPS Transfers: 7 Senior Officers Shifted in Midnight Reshuffle; Rajababu Singh, Irshad Wali Among Key Names
Powergrid
POWERGRID Strengthens National Grid Connectivity with Acquisition of 2 Key TBCB Projects Worth ₹3,375 Crore
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
WhatsApp Image 2025-10-19 at 12.23
WhatsApp Image 2025-10-16 at 15.16
IDES Saquib Alam
ADVERTISEMENT
ADVERTISEMENT