Latest News | European Investment Bank, IREDA Exploring Partnership to Finance RE, Green Hydrogen Projects in India

New Delhi, Mar 2 (PTI) The European Investment Bank and state-owned Indian Renewable Energy Development Agency (IREDA) Limited are exploring a partnership on financing of renewable energy and green hydrogen projects in India.

In this regard, Maria Shaw-Barragan, Global Director, European Investment Bank (EIB) and IREDA Chairman & Managing Directors (CMD) Pradip Kumar Das held a meeting in the national capital on Thursday.

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"EIB's Global Director meets CMD, IREDA, for collaboration on RE and green hydrogen projects financing," IREDA said in a statement.

The collaboration will provide much-needed support for the development of renewable energy and green hydrogen projects in India, and help in achieving the government's goal of 50 per cent of installed energy capacity from non-fossil fuel based sources by 2030, Das said.

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According to the statement, "During the meeting, EIB Global Director commended IREDA for its impressive growth over the previous three years. She also praised IREDA for quickly, effectively, and qualitatively financing the RE projects."

IREDA, under the Ministry of New and Renewable Energy (MNRE), is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)