IREDA, THDCIL ink MoU for green energy collaborations | Daily Current Affairs 2022
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IREDA, THDCIL ink MoU for green energy collaborations

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Indian Renewable Energy Development Agency Ltd. (IREDA) has signed a Memorandum of Understanding (MoU) with THDC India Ltd (THDCIL). Under the terms of the MoU, IREDA will provide techno-financial expertise in developing Renewable Energy (RE) projects.

Terms of the MoU
• Under the MoU, IREDA will undertake techno-financial due diligence of Renewable Energy and Energy Efficiency & Conservation projects for THDCIL.

• REDA will assist THDCIL in developing an action plan to create and acquire Renewable Energy (RE) projects for the next 5 years.

• According to the terms of the MoU, IREDA will also extend its techno-commercial expertise to THDCIL for Environmental & Social (E&S) due diligence of RE projects as per the internationally accepted E&S standards.

Significance of the MoU

• This MoU will help THDCIL to accelerate their footprints in the Renewable Energy space. THDCIL has portfolio of Solar & Wind energy projects apart from Hydro and Thermal.

• The MoU will facilitate knowledge transfer, which will contribute to driving sustainable development of India through Green Energy.

Key Points
• IREDA has signed a Memorandum of Understanding (MoU) with THDCIL.

• The MoU with THDCIL is the sixth one signed by IREDA within one year for providing its consultancy services for developers of RE and Energy transition.

• Earlier, IREDA had signed MoUs with SJVN, NHPC, TANGEDCO, NEEPCO and BVFCL to extend its Techno-Financial expertise for Green Energy projects.

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