A day after IREDA partnered with IIFCL, it signed MoUs with the Union Bank of India (UBI), and the Bank of Baroda (BoB) to finance renewable energy projects.

The partnership allows IREDA, UBI, and BoB to co-lend and syndicate loans for both established and new RE technologies.

Mr. Pradip Kumar Das, CMD, IREDA, said, “Both Union Bank of India and Bank of Baroda have an extensive nationwide presence with a vast network of branches. This collaboration aims to extend our reach, particularly in tier-2 & tier-3 cities and rural areas, enabling us to provide unique and innovative financial support to existing and new customers.”