IREDA signs MoU with Indian Overseas Bank for financing of renewable energy projects

Indian Renewable Energy Development Agency (IREDA) and Indian Overseas Bank have signed MoU to collaborate on co-lending and loan syndication for a wide range of renewable energy projects throughout the country.
The MoU covers a variety of services, including co-lending and co-origination assistance for all renewable energy projects. The partnership’s objectives are to administer trust and retention accounts for IREDA borrowers, expedite loan syndication and underwriting procedures, and move toward fixed interest rates for IREDA borrowings over a three- to four-year period.