Indian Renewable Energy Development Agency (IREDA) on Friday, signed a Memorandum of Understanding (MoU) with the Central Institute of Petrochemicals Engineering & Technology (CIPET). The move has been undertaken to provide IREDA’s techno-financial expertise for solarization of educational campuses of CIPET.
The Indian Renewable Energy Development Agency (IREDA) come are under the Ministry of New and Renewable Energy, while the Central Institute of Petrochemicals Engineering & Technology (CIPET) falls under the Ministry of Chemicals and Fertilizers.
The Memorandum of Understanding (MoU) was signed in the presence of senior officials, by Pradip Kumar Das, the Chairman and Managing Director (CMD) of IREDA and Prof (Dr) Shishir Sinha, the Director General of CIPET.
Under the Memorandum of Understanding, IREDA will help CIPET to solarize its multiple educational campuses through installation of solar PV or Rooftop Solar projects. The project will kick off from CIPET’s Varanasi, Ayodhya (Uttar Pradesh) and Bidar (Karnataka) campuses. With the move, the CIPET will be able to reduce its electricity expenditure, as well as reduce its carbon footprint.
Speaking on the collaboration, Pradip Kumar Das, the CMD of IREDA said that the institution is happy to collaborate with a leading national institution in their drive of adoption of a clean energy solution. He said that the agreement will bring in the best practices by combining the experience of both the organisations and to advance Prime Minister’s vision for the country’s long-term growth through green energy. The central government has aimed to source 50 percent of its energy from renewable sources, Das added.
IREDA had established a specialised Business Development and Consultancy division around one and a half years ago, with the aim to contest the growing demand in the RE industry. This is the eighth such Memorandum of Understanding signed by IREDA in the past one and a half years time to provide consultation services for the sustainable development of the country.
Some institutions to have signed Memorandum of Understanding with IREDA are: Satluj Jal Vidyut Nigam (SJVN), National Hydroelectric Power Corporation (NHPC), Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), North Eastern Electric Power Corporation Limited (NEEPCO), Brahmaputra Valley Fertilizer Corporation Limited (BVFCL), Tehri Hydro Development Corporation Limited (THDCIL), and Goa Shipyard Limited (GSL), with the objective to enhance its Techno-Financial expertise for Green Energy projects.
For the overall growth of the RE sector, IREDA plans to expand its consultancy services to other PSUs and private organisations.
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