New Delhi, 19 February 2024:* In a significant move towards promoting sustainable practices and green energy initiatives, Punjab National Bank (PNB), the country’s leading public sector bank, and the Indian Renewable Energy Development Agency (IREDA) have officially signed a Memorandum of Understanding (MOU) at the IREDA Headquarters in New Delhi.
This landmark agreement solidifies the commitment of both institutions to collaborate extensively in the realm of lending within the Renewable Energy sector. PNB and IREDA will join forces to provide financial support to companies dedicated to advancing Environment, Social, and Governance (ESG) goals within the nation.
In the wake of global concerns over sustainability and green energy, this strategic partnership aims to address the critical need for funding in sectors contributing to environmental welfare. By extending financial assistance to companies dedicated to sustainability and green energy, PNB and IREDA aim to play a pivotal role in fostering positive change.
The MOU was formalized at a brief yet significant ceremony held at the IREDA Headquarters. The event witnessed the presence of esteemed senior executives from both PNB and IREDA. Shri Atul Kumar Goel (MD&CEO), Shri Rajeeva (CGM – Corporate Credit), Shri Mohit Dhawan (General Manager- Corporate Credit), and Shri Gaurav Gupta (General Manager Extra Large Corporate Branch, New Delhi) represented PNB. From IREDA, Shri Pradeep Kumar Das (CMD), Dr. B K Mohanty (Director- Finance), and Dr. Ramesh Chandra Sharma (GM – Finance) were instrumental in sealing this momentous partnership.
Executives from both institutions expressed optimism about the potential impact of the MOU, describing it as a milestone in the journey to discover new avenues for lending in the Renewable Energy sector. They pledged wholehearted commitment and collaboration from both sides to ensure the success of this endeavor and to contribute significantly to the growth of sustainable practices in the country.
