IREDA to extend techno-financial expertise for solarization of CIPET academic campuses

New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) on Friday has signed a memorandum of understanding (MoU) with the Central Institute of Petrochemicals Engineering & Technology (CIPET), to provide its techno-financial expertise for solarization of CIPET campuses. The two organisations are under the Ministry of New & Renewable Energy and the Ministry of Chemicals and Fertilizers, respectively.

The MoU has been signed by IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das and CIPET's Director-General Prof (Dr) Shishir Sinha in the presence of senior officials.

Under the MoU, IREDA will help CIPET to solarize its numerous academic campuses by installing solar PV or rooftop solar projects. The project is most likely to begin at CIPET's Varanasi, Ayodhya (Uttar Pradesh) and Bidar (Karnataka) campuses. CIPET will be able to lower its electricity expenditure and reduce its carbon footprint by installing solar power plants at its academic campuses.

Speaking on the collaboration, Das said, "We are happy to cooperate with a premier national institution in their drive of adoption of a clean energy solution. The agreement is expected to bring in best practises by combining the experience of both organisations and to advance the Prime Minister's vision for the country's long-term growth through green energy. The Govt aims to source 50 percent of its energy from renewable sources, and these partnerships will help us accomplish the goal.

IREDA established a specialised business development and consultancy division one and a half years ago to meet the growing demand in the RE industry. This is the eighth MoU inked by IREDA in the last 16 months to provide consultation services for the sustainable development of the country. SJVN, NHPC, TANGEDCO, NEEPCO, BVFCL, THDCIL, and GSL had already signed MoUs with IREDA to enhance its Techno-Financial expertise for Green Energy projects.

For the overall growth of the RE sector, IREDA plans to expand its consultancy services to other PSUs and private organisations.

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