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Indian Renewable Energy Development Agency (IREDA) recently signed an MoU with Mahatma Phule Renewable Energy and Infrastructure Technology (MAHAPREIT) to offer financing facilities for the Renewable Energy projects to be implemented for state utilities, local bodies and the infrastructure of Renewable Energy Parks.

The MoU was signed by Shri Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA and Shri Bipin Shrimali, CMD, MAHAPREIT, a wholly owned subsidiary of Mahatma Phule Magasvargiya Vikas Mahamandal Maryadit (MPBCDC) . Under this collaboration, IREDA will also undertake Techno-Financial due diligence of Renewable Energy and Energy Efficiency & Conservation projects for MAHAPREIT.

The move aims at supporting the Govt. of India’s plans to achieve its target of 50% share of energy from non-fossil fuels by 2030 and encourage green investment and generation of jobs.