The Indian Renewable Energy Development Agency (IREDA) has signed a Memorandum of Understanding (MOU) with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT). According to this MoU, IREDA will be offering funding to MAHAPREIT for renewable energy projects that have to be carried out for state utilities, local governments, and renewable energy park infrastructure.
IREDA will also be conducting techno-financial due diligence on renewable energy and energy efficiency and conservation projects for MAHAPREIT as part of this collaboration. The collaboration is in line with the Indian government’s target of obtaining 50 per cent of its energy from non-fossil fuels by 2030.
Recently in May 2022, IREDA authorised Rs 144.45 billion in loans and distributed Rs 100.18 billion to various green energy projects across Maharashtra. In March 2022, IREDA signed a MoU with the Central Institute of Petrochemicals Engineering & Technology to provide its techno-financial expertise for the solarisation of CIPET campuses.
