Indian Railway Finance (NSE:IRFC, BOM:543257) or IRFC has entered into a memorandum of understanding with MOR & Rites joint venture REMCL, which facilitates power procurement for Indian Railways, to collaborate on financing renewable energy projects awarded by REMCL for supply to Indian Railways, according to a Thursday filing to the stock exchanges.
Under the initial pact, REMCL will provide its expertise in procuring economical power for the Indian Railways, while IRFC will offer its financial knowledge including project appraisal and fundraising capabilities for the power projects.
The partnership also entails exploring financing options for thermal, nuclear, and renewable power projects under a captive model through joint ventures involving Indian Railways and other entities.
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