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• Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) have signed a Memorandum of Understanding (MoU) aimed at advancing renewable energy initiatives across the nation. • The agreement paves the way for joint efforts in co-lending and loan syndication for a diverse spectrum of renewable energy projects. • 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 (TRA) 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 organization. • Learn Along: • About IREDA • Indian Renewable Energy Development Agency Limited (IREDA) is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). • IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: “ENERGY FOR EVER” • Chairman and Managing Director: Pradip Kumar Das • About PNB • Chairman: K G Ananthakrishnan Established: May 19, 1894 Headquarters: New Delhi
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