IREDA signs 5th MoU with BVFCL for green energy collaborations

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IREDA MoU
IREDA MoU

Indian Renewable Energy Development Agency Ltd. (IREDA) signed a Memorandum of Understanding (MoU) with Brahmaputra Valley Fertilizer Corporation Limited (BVFCL) in need of its techno-financial experience in expanding renewable energy projects and fundraising

The MoU was signed between Pradip Kumar Das, Chairman & amp; Managing Director (CMD), IREDA, and Dr. Siba Prasad Mohanty, CMD, BVFC. IREDA will manage techno-financial due diligence of renewable energy, green hydrogen, green ammonia, energy efficiency, and conservation projects for BVFCL.

IREDA has agreed to support BVFCL to produce and acquire renewable energy projects for the next five years.

Mr Das said that “IREDA is convinced that this collaboration will motivate other companies within the Chemical and Fertilizer sector like BVFCL to reduce carbon emissions and be environment friendly. It is a rapid advancement for IREDA to play an important role in the expansion of North-East India through Green Energy".

Mr Das said “this MoU will contribute to attaining the Governemnt's target of diminishing its carbon emissions to 45 percent by 2030 as per Prime Minister Narendra Modi's
commitment at CoP26".

Minister for New and Renewable energy declared that, "the country’s overall installed renewable energy capacity, including hydro, has surpassed 150 gigawatts. IREDA has promoted more than 19 GW RE installations within the country”.

The MoU with BVFCL is the fifth one signed by IREDA within a year. IREDA has also signed MoUs with SJVN, NHPC, TANGEDCO, and NEEPCO to increase its techno-financial expertise for green energy projects as reported.

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