BVFCL and IREDA sign MoU for Green Energy collaborations

A CORRESPONDENT

NAMRUP: Indian Renewable Energy Development Agency Ltd. (IREDA) on Wednesday signed a Memorandum of Understanding (MoU) with Brahmaputra Valley Fertilizers Corporation Limited (BVFCL) for providing its techno-financial expertise in developing renewable energy projects and fundraising.

The two companies are PSUs under Ministry of New & Renewable Energy and Ministry of Chemicals & Fertilizers respectively. The MoU was signed by Pradip Kumar Das, Chairman and Managing Director (CMD), IREDA, and Dr Siba Prasad Mohanty, CMD, BVFCL, in the presence of Chintan Shah, Director (Technical), IREDA and others.

Under the MoU, IREDA will undertake Techno-Financial due diligence of renewable energy, Green Hydrogen, Green Ammonia, Energy Efficiency and conservation projects for BVFCL. IREDA will assist BVFCL in developing an action plan to create and acquire renewable energy projects for the next five years.

CMD, IREDA while signing the MoU said, "We are happy to associate with BVFCL, which is now committed to reduce carbon emissions from its operations and value chain. We believe this collaboration will inspire other companies in the chemical and fertilizer sector like BVFCL to cut carbon emissions and become environment friendly. It is a way forward for IREDA to play a key role in the development of Northeast India through Green Energy."

Das further said, "This MoU will support in contributing to achieve the Government of India's target of reducing its carbon emission to 45 per cent by 2030 in line with the commitment made by Prime Minister Narendra Modi in CoP 26. Recently, the Ministry of New and Renewable Energy has announced that the country's total installed Renewable Energy capacity, including hydro, crossed 150 gigawatt and out of 150 GW, IREDA has supported more than 19 GW RE installations in the country."

The MoU with BVFCL is the fifth one signed by IREDA within one year. Earlier, IREDA has signed MoUs with SJVN, NHPC, TANGEDCO and NEEPCO to extend its Techno-Financial expertise for Green Energy projects.

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