IREDA signed an MoU with which bank for co-lending and

Solution

Indian Renewable Energy Development Agency (IREDA), has signed a an MoU with Bank of Maharashtra (BoM).The MoU comprises several services including co-lending and co-origination support for all Renewable Energy projects, facilitating loan syndication and underwriting, management of Trust & Retention Account for IREDA borrowers, and a commitment to establishing stable fixed interest rates spanning a period of 3-4 years for IREDA borrowings. Under this agreement, Bank of Maharashtra can invest in the Bonds issued by IREDA in accordance with the specified terms and conditions of the offering.