Indian Renewable Energy Development Agency (IREDA) on Saturday inked an MoU with North Eastern Electric Power Corporation to assist in developing renewable projects and raising funds.
Under the Memorandum of Understanding (MoU), IREDA will undertake techno-financial due diligence of renewable energy and energy efficiency & conservation projects for NEEPCO, IREDA said in a statement.
IREDA will assist North Eastern Electric Power Corporation (NEEPCO) in developing an action plan to create and acquire renewable energy projects for the next five years.
IREDA Chairman & Managing Director Pradip Kumar Das said the MoU will contribute to achieving the government's target of reducing carbon emission to 33 per cent by 2030.
"By signing the MoU, IREDA will continue to enhance the cooperation and coordination with NEEPCO, working together to promote further progress on renewable energy development and addressing climate change," Das said.
Earlier, IREDA has signed MoUs with SJVN, NHPC and TANGEDCO.
The company is looking forward to extending its consultancy and advisory services to other PSUs as well as private organisations to develop the renewable energy sector. IREDA and NEEPCO are under the Ministry of New & Renewable Energy and Ministry of Power, respectively.
The MoU was signed by Pradip Kumar Das, CMD, IREDA and Vinod Kumar Singh, CMD, NEEPCO.