Renewable projects to be developed by NEEPCO with support from IREDA

NEEPCO to develop an action plan for creating and acquiring renewable energy projects for the next five years with assistance from IREDA.

An agreement was signed by the Indian Renewable Energy Development Agency (IREDA) and North Eastern Electric Power Corporation (NEEPCO) to support the development and fundraising of renewable energy projects in India.  

Pradip Kumar Das, CEO of IREDA, and Vinod Kumar Singh, CEO of NEEPCO, signed the MoU.

A statement from IREDA disclosed that the agency will carry out techno-financial due diligence for renewable energy and energy efficiency & conservation projects for NEEPCO, as per the Memorandum of Understanding (MoU).

NEEPCO will develop an action plan for creating and acquiring renewable energy projects for the next five years with assistance from IREDA.

Pradip Kumar Das, IREDA’s Chairman & Managing Director, said the MoU will make it possible for the government to reduce carbon emissions by 33 percent by 2030.

As a result of this MoU, IREDA and NEEPCO will continue to strengthen their collaboration and coordination in order to promote renewable energy development and combat climate change, stated Das.

The IREDA has previously signed agreements with SJVN, NHPC, and TANGEDCO. For the development of the renewable energy sector, the company plans to extend its advisory and consultancy services to other public and private entities.

IREDA is under the Ministry of New and Renewable Energy, while NEEPCO is under the Ministry of Power.

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