IREDA and PNB have signed a MoU for co-financing green energy projects across India. The agreement aims to facilitate joint efforts in co-lending and loan syndication for a diverse spectrum of renewable energy projects. It strengthens IREDA s partnerships with other financial institutions to fund large-scale renewable energy projects and aligns with Prime Minister Narendra Modi s goal to achieve 500 GW non-fossil fuel-based electricity generation capacity by 2030.
Repowering old wind turbines to boost their capacity will increase India’s wind power generation, but it is a costly affair and might require more land, wider access roads, consent of all turbine owners in joint projects and indigenous manufacturing capabilities.
2) “This India Energy Week is taking place at a significant time when India’s GDP rate has exceeded 7.5 per cent in the first six months of the financial year," said PM Modi during the inauguration of the event.
The Indian Biogas Association (IBA) has received pledges of new investments totaling INR 2,755 crore during the Renewable Energy India Expo. The investments, which are expected to be realized in the next three years, were made by companies from various countries including Germany, Sweden, and Italy.
The association has signed joint ventures (JVs), MoUs (memorandum of understanding) and received LoIs (letter of intent) commitments during the recently concluded Renewable Energy India (REI) Expo held at Greater Noida from from October 4 to 6.