PNB Enters Into MOU With Indian Renewable Energy Development Agency

New Delhi: Punjab National Bank (PNB), a leading public sector bank, and the Indian Renewable Energy Development Agency (IREDA), the country’s foremost renewable energy agency, have entered into a Memorandum of Understanding (MOU) at the IREDA Headquarters in New Delhi.

Under this agreement, both entities will collaborate in the area of lending within the renewable energy sector. This collaboration aims to provide financial support to companies dedicated to promoting environmental, social, and governance (ESG) principles in the nation. Given the global emphasis on sustainability and green energy, PNB and IREDA will jointly focus on lending to companies operating in these sectors.

A brief ceremony marked the signing of the MOU, attended by senior executives from both PNB and IREDA. Representing PNB were 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). From IREDA, Shri Pradeep Kumar Das (CMD), Dr. B K Mohanty (Director, Finance), and Dr. Ramesh Chandra Sharma (GM – Finance) were present during the signing ceremony.

According to representatives from both PNB and IREDA, this MOU marks a significant milestone in exploring new avenues for lending within the country’s renewable energy sector. They expressed full commitment from both sides to this endeavor.