Date:26/03/2008 URL: http://www.thehindubusinessline.com/2008/03/26/stories/2008032651280300.htm

Back Power Finance, IREDA sign pact

Our Bureau

New Delhi, March 25 Power Finance Corporation Ltd (PFC) and Indian Renewable Energy Development Agency Ltd (IREDA) on Tuesday signed a memorandum of understanding (MoU) for undertaking joint financing of renewable energy, energy efficiency and conservation, and medium and large hydro projects.

The pact was signed by Mr Shyam Wadhera, Director-Projects, PFC, and Mr Debashish Majumdar, Chairman and Managing Director, IREDA.

“PFC and IREDA shall cooperate to leverage their respective strengths and competencies built over the years for facilitating financing of these sectors for mutual benefit,” a PFC statement said.

At present, the installed capacity of electric power from renewable energy sources in the country is 10,209 MW.