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IREDA, PNB collaborate to enhance financing for renewable energy projects
Livemint
·
1y ago
Medial
The Indian Renewable Energy Development Agency Ltd. (IREDA) and Punjab National Bank (PNB) have signed an MoU to collaborate on financing renewable energy projects in India. The partnership aims to provide robust financial support for sustainable projects and align with the Prime Minister's goal of achieving 500 GW of non-fossil-fuel-based electricity by 2030. The agreement will enable sharing of financial risks and rewards for larger projects and streamline financial management, making it easier for developers.
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Related News
IREDA secures Centre’s nod to raise up to ₹4,500 cr via QIP; govt aims to offload 7% stake | Mint
Livemint
·
10m ago
Medial
The Indian Renewable Energy Development Agency (IREDA) has received government approval to raise up to ₹4,500 crore through a qualified institutional placement (QIP). This move allows the government to dilute its stake in IREDA by 7%. The Department of Investment and Public Asset Management (DIPAM) gave its approval based on a high-level committee's recommendations. The funds raised will help IREDA expand its financing for renewable energy projects and strengthen its capital base. IREDA also plans to sell up to a 10% stake to raise around ₹4,500 crore for future growth.
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Ireda eyes overseas lending, borrowing from green funds via GIFT City arm
Livemint
·
10m ago
Medial
The Indian Renewable Energy Development Agency (Ireda) is exploring the possibility of financing projects abroad through its subsidiary, Ireda Global Green Energy Finance IFSC Ltd. The subsidiary, based in Gujarat's GIFT City, aims to finance solar component manufacturing and green hydrogen businesses in India, as well as cater to export demand. Ireda is planning to borrow and lend from its GIFT City office, eliminating the need for foreign currency conversion. It also intends to approach green funds for financing projects and make its debut in the international market. The company is awaiting approval for its proposed follow-on public offering to raise around INR 4,500-5,000 crore.
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NBFC Paisalo Digital raises ₹200 crore from IREDA
Thehindubusinessline
·
1y ago
Medial
Paisalo Digital, a registered NBFC in India, has secured ₹200 crore in funding from the Indian Renewable Energy Development Agency Limited (IREDA). The company plans to use the funds to expand its lending portfolio in the e-mobility sector. With this move, Paisalo aims to empower consumers to make eco-friendly transportation choices while reducing carbon emissions. The company intends to collaborate with other stakeholders in the electric vehicle sector to facilitate financing options for consumers interested in adopting e-mobility.
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PNB to focus on project financing to revive business loan growth, CEO says
Economic Times
·
9d ago
Medial
Punjab National Bank (PNB) aims to boost business loan growth by focusing on infrastructure, smart metering, and renewable energy projects, according to CEO Ashok Chandra. Despite targeting 11%-12% overall loan growth by FY26, PNB's business loans grew only 6.9% in Q1. The bank plans to revitalize project financing while also exploring real estate, rental discounting, and data centers. PNB's Q1 profit decreased by 48% due to a tax change charge.
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Climate Financing Platform Two Point O Capital Raises $6.3 Mn To Aid Clean Energy Projects Facing Capital Dearth
Inc42
·
10m ago
Medial
Summary: Two Point O Capital, a climate financing platform, has raised funding to enhance its technology platform for clean energy projects. The startup plans to collaborate with operating and financial partners to build and manage a portfolio of distributed clean energy projects. Founded in 2024, Two Point O Capital focuses on supporting MSMEs and rural enterprises in the commercial and industrial sectors.
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How govt-backed development finance institution NaBFID has hit the ground running
VCCircle
·
4m ago
Medial
NaBFID, a government-backed development finance institution, has made significant strides since its inception. In March, it facilitated a structured financing deal worth Rs 1,787 crore for BluPine Energy, marking a significant development in debt financing for renewable energy projects. Despite such deals being commonplace for infrastructure projects, NaBFID’s involvement highlights its impactful entry into the finance sector, supporting major projects and fostering the growth of renewable energy through strategic financial backing.
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IREDA subsidiary gets registration certificate to start business as finance company
Business Today
·
5m ago
Medial
IREDA Global Green Energy Finance IFSC Ltd has been granted a Certificate of Registration by the International Financial Services Centres Authority (IFSCA) as of February 18, 2025, allowing it to operate as a finance company. The company provides financial products and related services for renewable energy projects, covering all stages from project inception to post-completion. This includes projects like equipment manufacturing and transmission.
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India's renewable energy sector to attract Rs 30.5 lakh Cr investment by 2030: Economic Survey
YourStory
·
1y ago
Medial
The Economic Survey suggests that mobilizing finance, resolving land acquisition issues, and attracting competitive investments are crucial for achieving India's target of 500GW renewable energy by 2030. The survey highlights that the sector is expected to receive investments worth approximately Rs 30.5 lakh crore between 2024 and 2030, creating significant economic opportunities. Additionally, it recommends banking sector readiness for financing, exploring international funding, and addressing technical and financial bottlenecks for risk mitigation. The survey also emphasizes the role of state governments in land acquisition for renewable energy projects. It projects that renewable energy initiatives could create around 3.4 million jobs by 2030.
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SECI executes 60 GW of power sale pacts for renewable energy projects in 14 years
Economic Times
·
1m ago
Medial
State-owned Solar Energy Corporation of India (SECI) has executed over 60 GW of power sale agreements for renewable energy projects within 14 years. These agreements encompass a diverse array of solar, wind, and hybrid projects and ensure long-term power purchase commitments. SECI's efforts aim to bolster payment security for developers, enhance India's renewable capacity, and support the nation's clean energy objectives, including future initiatives in energy storage, green hydrogen, and advanced power models.
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BluPine Energy Secures Rs 2,416 Crore Debt for Its FDRE Project
OutlookIndia
·
1m ago
Medial
BluPine Energy, an Actis-backed renewable energy platform, secured Rs 2,416 crore in debt financing for a 150 MW Firm and Dispatchable Renewable Energy (FDRE) project in Aland, Karnataka. This project, run by Solarcraft Power India 16 Pvt Ltd, is under the SJVN 1,500 MW FDRE tender. Standard Chartered facilitated the transaction as the Mandated Lead Arranger. Scheduled for 2026, it aims to enhance renewable energy availability and reduce CO₂ emissions by 687,043 tonnes.
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