Indian Renewable Energy Development Agency Limited (IREDA) has signed a memorandum of understanding (MoU) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT), a wholly owned subsidiary of Mahatma Phule Backward Classes Development Corporation (49 per cent owned by central government and 51 per cent owned by government of Maharashtra) to provide loans for green energy projects.
As per the MoU, IREDA will offer financing facilities to MAHAPREIT for the renewable energy projects to be implemented for state utilities, local bodies and the infrastructure of renewable energy parks. Under the collaboration, IREDA will also undertake techno-financial due diligence of renewable energy and energy efficiency and conservation projects for MAHAPREIT. This is the ninth MoU inked by IREDA in the last two years to provide consultation services for the sustainable development of the country.