The Indian Renewable Energy Development Agency Ltd (IREDA) has entered into a pact with THDC India Ltd (THDCIL), under which it will provide techno-financial expertise in developing renewable energy projects. Both the entities have signed a Memorandum of Understanding (MoU) to this effect.

Under the MoU, IREDA will undertake techno-financial due diligence of renewable energy and energy efficiency and conservation projects for THDCIL, a statement said.

IREDA will also assist THDCIL in developing an action plan to create and acquire renewable energy projects for the next five years, the statement added.

Besides, IREDA will also extend its techno-commercial expertise to THDCIL for Environmental & Social (E&S) due diligence of RE projects as per internationally accepted standards.

“This MoU will help THDCIL to accelerate their footprints in the Renewable Energy space, which already has a portfolio of Solar & 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,” Pradip Kumar Das, Chairman & Managing Director, IREDA said.

Das further noted that “realising the vision of the 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 lakhs of 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.