IREDA and IIFCL collaborate to finance renewable energy projects

Indian Renewable Energy Development Agency Limited (IREDA) and India Infrastructure Finance Company Limited (IIFCL) have entered into a memorandum of understanding (MoU) to provide financing for various categories of renewable energy projects, including small hydro projects.

The MoU enables them to engage in co-lending/co-origination and loan syndication. Both the organisations will work towards establishing fixed interest rates for IREDA borrowings over a period of three to four years. Furthermore, IIFCL may consider investing in bonds issued by IREDA, in accordance with the terms and conditions of the issuance.