The Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) have signed a memorandum of understanding aimed at advancing renewable energy initiatives. IREDA said in its regulatory filing that the agreement paves the way for joint efforts in co-lending and loan syndication for a diverse spectrum of renewable energy projects.
Pradip Kumar Das, CMD of IREDA, said, “This strategic partnership between IREDA and PNB 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.”
The IREDA stock rose by 1.15 per cent on the NSE, traded at ₹180, while PNB stock traded at ₹129.05, down by 0.85 per cent as of 12.40 pm on Monday.