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This collaboration aims to finance renewable energy (RE) projects awarded by REMCL to supply power to Indian Railways. Under the agreement, IRFC will explore financing options for thermal, nuclear, and renewable power projects developed under a captive model through joint ventures involving Indian Railways and other entities.
This MoU sets the foundation for cooperation between IRFC and REMCL to advance Indian Railways’ goal of minimising reliance on fossil fuels and achieving net-zero carbon emissions by 2030. The collaboration aims to harness renewable energy sources for the railway sector.
Also Read: Nearly 55 lakh small shareholders now have shares of IRFC as per its latest shareholding
Under the MOU, REMCL will provide its expertise in procuring economical conventional/renewable power for Railways including conducting of bidding process for setting up renewable energy projects in the power sector, while IRFC will offer its financial acumen, including project appraisal and fundraising capabilities.
For IRFC, this MoU marks a strategic step toward diversifying its business model while maintaining its critical role in the development of Indian Railways. The partnership aligns with the government’s vision of delivering world-class, efficient, and environmentally sustainable transportation solutions for the
nation.
Shares of Indian Railway Finance Corp Ltd ended at ₹152.00, up by ₹1.70, or 1.13% on the BSE.
Also Read: IRFC shares can move back to ₹180 if it closes above this level, says analyst
