Mumbai: Indian Renewable Energy Development Agency Limited (IREDA) and Punjab National Bank (PNB) are looking to scale up their collaboration in renewable energy financing. On September 24, 2024, Pradip Kumar Das, Chairman and Managing Director of IREDA, met with Atul Kumar Goel, Managing Director and CEO of PNB, to discuss ways to enhance their existing partnership aimed at supporting India's growing green energy sector.
 

The two leaders highlighted the increasing need for financial institutions to play a more active role in meeting the sector’s expanding demands. They explored various strategies to further align their partnership with the Indian government’s ambitious renewable energy targets. Central to their discussions were potential avenues for PNB to provide IREDA with financing at lower interest rates, alongside joint lending for large-scale renewable energy projects, ensuring more competitive funding for the sector.
 

Commenting on the discussions, Pradip Kumar Das said, “India’s renewable energy sector is growing at an unprecedented pace, and the demand for financing is surging. Our partnership with PNB is critical in helping us contribute meaningfully to the nation’s green energy transition. Together, we are committed to supporting the government’s vision and driving progress towards India’s renewable energy goals.” /BI