Indian Renewable Energy Development Agency (IREDA) has signed a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) for co-financing of Renewable Energy (RE) projects in India.
As per the MoU, IREDA will provide joint lending, loan syndication and underwriting, management of Trust and Retention Account (TRA) services for its borrowers. Besides, IREDA and PNB can invest in bonds issued by either organisation.