- NET Web Desk
In an attempt to ensure the availability of sustainable energy and mitigating the adverse effects of climate change along Northeastern regions, the Indian Renewable Energy Development Agency Ltd. (IREDA) today signed Memorandum of Understanding (MoU) with Brahmaputra Valley Fertilizer Corporation Limited (BVFCL).
An initiative undertaken by IREDA to provide its techno-financial expertise in developing Renewable Energy projects and fund raising.
It’s worthy to note that IREDA is a Public Sector Undertaking (PSU) under Ministry of New & Renewable Energy. Whereas, BVFCL is a PSU under Ministry of Chemicals & Fertilizers.
According to the MoU, IREDA will undertake Techno-Financial due diligence of Renewable energy, Green Hydrogen, Green Ammonia, Energy Efficiency & conservation projects for BVFCL.
Further, it will assist BVFCL in developing a roadmap or an action plan to create and acquire Renewable Energy projects for the next 5 years.
While signing the MoU, the Chairman and Managing Director (CMD) of IREDA, Pradip Kumar Das asserted that IREDA believes this collaboration will inspire other companies of Chemical & Fertilizer sectors like – BVFCL to cut carbon emissions and being environment friendly.
“It is a way forward for IREDA to play key-role for development of North-East India through Green Energy.” – added the CMD.
Das further highlighted that concerned MoU will immensely contribute in achieving the Indian Government’s target of reducing its carbon emissions to 45% by 2030 in line with commitments made by Prime Minister, Narendra Modi in CoP 26.
Recently, the Ministry of New and Renewable Energy has announced that India’s total installed Renewable Energy capacity, including hydro, crossed 150 gigawatt and out of 150 GW.
Meanwhile, IREDA has supported more than 19 GW RE installation in the country.
The MoU with BVFCL is the fifth one signed by IREDA within one year.
Earlier, it has signed MoUs with Satluj Jal Vidyut Nigam (SJVN), National Hydroelectric Power Corporation (NHPC), Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), and North Eastern Electric Power Corporation Limited (NEEPCO) to extend its Techno-Financial expertise for Green Energy projects.
