Indian Renewable Energy Development Agency Limited (IREDA) and Punjab National Bank (PNB) have signed a memorandum of understanding (MoU) aimed at advancing renewable energy initiatives across the nation.
The MoU comprises various provisions aimed at enhancing support for renewable energy projects. These include joint lending, loan syndication and underwriting, management of Trust and Retention Account for IREDA borrowers, and working towards competitive terms of sanction, including pricing on IREDA borrowings. Through the collaboration, IREDA and PNB can also invest in bonds issued by either organisation.