IREDA will undertake techno-financial due diligence of renewable energy, green hydrogen, green ammonia, energy efficiency and conservation projects for BVFCL

Indian Renewable Energy Development Agency (IREDA) signed a Memorandum of Understanding (MoU) with Brahmaputra Valley Fertilizer Corporation Limited (BVFCL) for providing its techno-financial expertise in developing Renewable Energy projects and fundraising. The two companies are PSUs under the Ministry of New & Renewable Energy and Ministry of Chemicals & Fertilizers respectively.

The MoU was signed by Pradip Kumar Das, CMD, IREDA and Dr Siba Prasad Mohanty, CMD, BVFCL in the presence of Chintan Shah, Director (Technical), IREDA, Dr RC Sharma, CFO, IREDA, and other senior officials.

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 singing the MoU said that IREDA believes this collaboration will inspire other companies of the chemical and fertiliser sector like BVFCL to cut carbon emissions and be environment friendly.