New Delhi: To provide its techno-financial expertise in developing renewable energy projects, Indian Renewable Energy Development Agency Ltd (IREDA) has signed a Memorandum of Understanding (MoU) with THDC India Ltd (THDCIL). The MoU was signed by Pradip Kumar Das, Chairman and Managing Director (CMD), IREDA and Rajeev Kumar Vishnoi, CMD, THDCIL.

Under the 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 and social (E&S) due diligence of RE projects as per the internationally accepted E&S standards.

Speaking on the occasion, IREDA CMD Das said: “This MoU will help THDCIL to accelerate their footprints in the Renewable Energy space, which 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.”

Das also underlined: “Realizing the vision of Prime Minister Narendra Modi to reduce carbon emissions to 45 per cent 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 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. /BI/