New Delhi: Jatin Kumar Nayak is set to become the next Chairman & Managing Director (CMD) of Indian Renewable Energy Development Agency Limited (IREDA), a PSU under the Ministry of New and Renewable Energy (MNRE). He has been recommended for the post by the Public Enterprises Selection Board (PESB) on Friday. Presently, he is serving as Executive Director (Finance) at REC Limited.

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Nayak has been recommended for the post of CMD of IREDA from a list of 10 candidates who were interviewed by the PESB selection panel at its Meeting No. 49/2026 held on June 19. The other candidates who appeared for the selection interview included senior executives from IREDA, REC Limited, GAIL Group companies, RailTel Corporation of India, Bharat Sanchar Nigam Limited (BSNL), Indian Oil Corporation, the Ministry of Railways, and Central Electronics Limited.

Nayak is a finance professional with diverse experience in the sector. He has extensive expertise in resource mobilisation, treasury management, corporate accounts, inventory management, cost determination and control, loan disbursement, accounting, and loan recovery.

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Upon approval of his appointment, Nayak will succeed PK Das, who has been heading the renewable energy financing company since May 6, 2020.

The PESB's recommendation will now be forwarded to the Appointments Committee of the Cabinet (ACC) for final approval before the appointment is formalised.

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