IREDA and THDC ink pact for green energy collaborations

New Delhi: In order to provide its techno-financial expertise in developing renewable energy projects, the Indian Renewable Energy Development Agency Limited (IREDA) has signed a memorandum of understanding (MoU) with THDC India Ltd on Friday. Earlier, IREDA had signed an MoU with BVFCL for providing its techno-financial expertise in developing renewable energy projects and fundraising on November 30.

Under this MoU, IREDA will undertake techno-financial due diligence of renewable energy and energy efficiency and Conservation projects for THDCIL. IREDA will assist THDCIL in developing an action plan to create and acquire renewable energy projects for the next five years. IREDA will also extend its techno-commercial expertise to THDCIL for environmental & social (E&S) due diligence of RE projects as per the internationally accepted E&S standards.

The MoU has been signed by IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das and THDC India Ltd's CMD Rajeev Kumar Vishnoi in the presence of IREDA's Director (Technical) Chintan Shah and other senior officials.

Speaking on the occasion IREDA CMD said: "This MoU will help THDCIL to accelerate their footprints in the renewable energy space, who already has a portfolio of solar and wind energy projects apart from hydro and thermal. It will facilitate knowledge transfer, which will contribute to driving sustainable development of the country through green energy."

He also underlined, "Realising the vision of Prime Minister Narendra Modi, to reduce carbon emissions to 45 percent by 2030 in India, these collaborations will enable us to contribute to meeting the targets of the Paris Agreement. Also, these efforts can stimulate green investments and create lakhs of jobs."

This is the sixth MoU signed by IREDA within one year for providing its consultancy services for developers of RE and Energy transition. Earlier, IREDA had signed MoUs with SJVN, NHPC, TANGEDCO, NEEPCO and BVFCL to extend its techno-financial expertise for green energy projects.

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