Renewable energy projects get 100 mn euro aid from France

New Delhi, May 22 (IANS) Indian Renewable Energy Development Agency (IREDA) will receive a Line of Credit of 100 million euro for financing renewable energy and energy efficiency projects in the country.

A memorandum of understanding (MoU) was signed here Wednesday by K.S. Popli, chairman IREDA, and Aude Flogny, regional director of Agence Francaise de Development (AFD) of France.

"This credit is being extended for a period of 15 years and without any guarantee from the Government of India," the ministry of new and renewable energy said Thursday in a release.

Commenting on AFD's partnership with IREDA, Flogny said: "Our relationship with IREDA has been long-lasting, and I extend my deepest gratitude to the MNRE (ministry of new and renewable energy) and IREDA for active collaboration over the years."