IREDA to help NHPC in creating, acquiring RE projects, signs an MoU

New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) has signed a memorandum of understanding (MoU) with NHPC Limited for providing its technical expertise in developing renewable energy projects. The two companies are PSUs under Ministry of New & Renewable Energy (MNRE) and Ministry of Power, respectively. As per the the MoU, IREDA will undertake techno-financial due diligence of renewable energy and energy efficiency and conservation projects for NHPC. IREDA will assist NHPC in developing an action plan to create and acquire renewable energy (RE) projects for the next five years.

The MoU has been signed through virtual mode by IREDA's CMD Pradip Kumar Das and NHPC's CMD Abhay Kumar Singh. IREDA's Director (Technical) Chintan Shah, NHPC's Director (Technical) YK Choubey, NHPC's Director (Finance) RP Goyal, NHPC's Director (Projects) Biswajit Basu, NHPC's Executive Director (Business Development) VK Maini NHPC and other senior officials were also present.

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Signing the MoU, the IREDA CMD said, "The MoU highlights IREDA's continuous efforts for the development of the renewable energy sector in line with Prime Minister's vision of Aatmanirbhar Bharat. This is a transformational opportunity for IREDA and NHPC to achieve perfect synergy between the two organisations. It will facilitate knowledge and technology transfer and provide consultancy and research services, which will contribute towards driving sustainable development of the country. The MoU with NHPC is the second one signed by IREDA within the last one month. IREDA has signed an MoU with SJVN Ltd. in December 2020. We look forward to extending our consultancy services to other PSUs as well as private organisations for the development of the renewable energy sector."

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