NEW DELHI: The India Renewable Energy Development Agency Ltd (IREDA) and Mahatma Phule Renewable Energy and Infrastructure Technology Ltd. (MAHAPREIT) signed a memorandum of understanding (MoU) on Monday, August 22, to provide financial assistance for renewable energy projects.
Pradip Kumar Das, Chairman and Managing Director, IREDA and Bipin Shrimali, Chairman and Managing Director, MAHAPREIT signed the pact on behalf of their respective organisations. IREDA will take care of the technical and financial aspects of renewable energy, energy efficiency and conservation projects of MAHAPREIT.
Kumar in his address noted, “We are pleased to partner with MAHAPREIT and offer our techno-financial expertise to MAHAPREIT for the sustainable development of Maharashtra. Through this kind of collaboration, we will be able to support Government of India achieve its target of 50% share of energy from non-fossil fuels by 2030. Also, these initiatives could encourage green investment and generate thousands of jobs.”
A couple of years back, IREDA established a Business Development and Consultancy division to address the growing demand in renewable energy sector. In past 2 years, IREDA has signed pacts with various organisations to improve their technical and financial expertise for renewable energy projects.