In another step towards 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), on September 5, 2023. These agreements will empower IREDA to 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.
Expressing his happiness about these partnerships, CMD of IREDA, Shri 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.”
The MoU with Union Bank of India was formally inked by General Manager (Technical Services), IREDA, Shri Bharat Singh Rajput and General Manager (Large Corporate Vertical), UBI, Shri Dhirendra Jain.
