IREDA, THDCIL inks MoU for green energy collaborations

To provide its techno-financial expertise in developing renewable energy projects, the Indian Renewable Energy Development Agency Ltd. (IREDA) has announced that it has signed a Memorandum of Understanding (MoU) with THDC India Ltd (THDCIL).

The MoU was signed by Mr. Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA, and Mr. Rajeev Kumar Vishnoi, CMD, THDCIL

Under the MoU, IREDA will undertake Techno-Financial due diligence of Renewable Energy and Energy Efficiency &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 renewable energy projects as per the internationally accepted E&S standards.

Speaking on the event CMD, IREDA 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."

Mr. Das also emphasized: "Realizing the vision of the Hon'ble Prime Minister, Shri Narendra Modi, to reduce carbon emissions to 45 percent by 2030 in India, these collaborations will enable us to contribute for 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.