MoU signed between IREDA and THDCIL for renewable energy
As part of the MoU, IREDA will assess renewable energy projects as well as energy efficiency and conservation programs for THDCIL.
Indian Renewable Energy Development Agency Ltd (IREDA) has signed a Memorandum of Understanding (MoU) with THDC India Ltd (THDCIL) to assist in the development of renewable energy (RE) projects. Through signed agreement, IREDA will provide THDC India with technical and financial support for RE projects.
THDCIL said IREDA will conduct techno-financial due diligence for it on renewable energy, energy efficiency, and conservation projects.
A statement from IREDA said that they will also be working with THDCIL to develop an action plan for acquiring and developing renewable energy projects over the next five years.
Furthermore, IREDA will also provide THDCIL with its techno-commercial experience for environmental and social (E&S) due diligence of RE projects in accordance with internationally established standards.
The MoU will allow THDCIL to extend its footprints in the renewable energy industry. It already has a portfolio of solar and wind energy projects in addition to hydro and thermal.
Pradip Kumar Das, Chairman and Managing Director of IREDA, comments, “The Green Energy initiative will facilitate knowledge transfer and contribute to the sustainable development of the country.”
As part of Prime Minister Narendra Modi’s vision to cut carbon emissions by 45 percent in India by 2030, Das noted that these partnerships “will enhance India’s efforts to meet the Paris Agreement targets. In addition, these collaborations can help spur green investments and create lakhs of jobs.”
IREDA has signed six Memorandums of Understanding within the last year relating to its consultancy services for RE and energy transition developers
To enhance its techno financial expertise for Green Energy projects, IREDA had previously inked MoUs with SJVN, NHPC, TANGEDCO, NEEPCO, and BVFCL.
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