YES BANK signs strategic MoU with IREDA at Make in India Week, Mumbai
The MoU was signed by Rana Kapoor, MD & CEO, YES BANK and S. K. Popli, Chairman & Managing Director, IREDA during the Make in India Week today.
The strategic MoU will boost green energy financing & enable close partnership between both institutions to create a supporting framework for funding of Renewable Energy and Energy Efficiency projects. YES BANK will also support the initiatives of IREDA in the development of these critical sectors.
Speaking about the MoU, Rana Kapoor, MD & CEO, YES BANK and Chairman, YES Institute, said, “YES BANK’s partnership with IREDA is a significant joint effort towards actualizing the Government’s mission of 175 GW of Clean energy by 2022. YES BANK is fully committed to play the role of a catalyst and work towards unlocking innovative financial mechanisms for Renewable Energy projects and this MoU will strengthen our efforts towards meeting our COP 21 commitment of mobilizing USD 5 Billion for climate action by 2020.”
Speaking about the partnership, S K Popli, CMD, IREDA said, “IREDA is committed to developing innovative financing mechanisms and promoting self sustaining investments towards Renewable energy projects. This MoU and partnership with YES BANK, which has been pioneering green infra financing in India, will further cement our efforts towards ensuring that India addresses its power needs in a sustainable fashion.”
This MoU further reinforced YES BANK’s focus on Renewable Energy and multiple strategic initiatives undertaken towards supporting Govt. of India’s vision of establishing 175 GW of Renewable Energy capacity in India by 2022.
Speaking at the Session on International Financing for Renewable Energy and Manufacturing at the Seminar on Renewable Energy during the Make In India Week, Mumbai, Rana Kapoor, MD & CEO, YES BANK and Chairman, YES Institute said, “India has the potential to be amongst the top 3 countries globally in the next five years in terms of installed capacity of renewable energy, thereby creating millions of new jobs, reducing poverty and achieving sustained socioeconomic development. We believe that banks, as central players in an economy, should influence and facilitate positive impact. YES BANK strives to set an industry benchmark towards creating a sustainable ecosystem and serve our customers, clients, employees and communities better.”
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