IREDA Signs MoU With NHPC for Developing Renewable Projects

IREDA has signed an MoU with NHPC for providing its technical expertise in developing renewable energy projects for the next 5 years

IREDA signs a memorandum of understanding (MoU) with NHPC Ltd. for providing its technical expertise in developing renewable energy projects for the next 5 years pic.twitter.com/JLqf91hsR8

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The Indian Renewable Energy Development Agency (IREDA), under the administrative control of Ministry of New & Renewable Energy (MNRE), has signed a Memorandum of Understanding (MoU) with NHPC Ltd, the PSU under the Ministry of Power, for providing its technical expertise in developing renewable energy projects.

Under the (MoU), IREDA will undertake Techno-Financial due diligence of Renewable energy and Energy Efficiency & conservation projects for NHPC. IREDA will assist NHPC in developing an action plan to create and acquire Renewable Energy projects for the next 5 years.

The MoU was signed through virtual mode by Pradip Kumar Das, CMD, IREDA and Abhay Kumar Singh, CMD, NHPC Ltd, in presence of other key dignitaries.

“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 & research services, which will contribute to driving sustainable development of the country,” said Das. 

NHPC said the company has undertaken an ambitious plan to make a significant imprint on the RE landscape of the country through the development of 7.5 GW of renewable energy (solar-terrestrial and floating, and wind) projects in the next three years.

It added that it has already successfully commissioned renewable capacity of 102.5 MW (solar-terrestrial and rooftop, and wind) on an ownership basis and “has contracted 2000 MW as intermediary procurer basis (Facilitator Mode) at one of the most competitive tariffs with planned commissioning by 2021.

“The MoU with NHPC is the second one signed by IREDA within 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,” added Das.

In December, SJVN and IREDA had entered an MoU for collaboration on green energy projects. Under this MoU, IREDA is providing its services to SJVN for its green energy projects. IREDA will undertake Techno-Financial due diligence of renewable energy, energy efficiency and conservation projects for SJVN.