IREDA to Provide Techno-Financial Expertise to Goa Shipyard for Rooftop Solar Projects

State-run power sector major lender Indian Renewable Energy Development Agency (IREDA) has signed a Memorandum of Understanding (MoU) with Goa Shipyard Ltd (GSL) to provide its techno-financial expertise to set up a rooftop solar power project.

IREDA is the Public Sector Undertaking (PSU) under the Ministry of New & Renewable Energy (MNRE) while Goa Shipyard Ltd is the PSU under the Ministry of Defence.

The MoU was signed between Pradip Kumar Das, Chairman & Managing Director (CMD) of IREDA and Cmde Bharat Bhushan Nagpal, CMD of GSL in the presence of senior officials.

Under the MoU, IREDA will assist GSL in setting up a rooftop solar power project at the company’s headquarter in Vasco da Gama, Goa.

Besides, IREDA will also extend its techno-commercial expertise to GSL for Environmental & Social (E&S) due diligence of rooftop solar and other renewable energy (RE) projects as per the internationally accepted E&S standards.

After setting up a rooftop solar power project at its building, GSL will be able to bring down the expenditure on electricity and reduce its carbon footprint as well.

Commenting on the collaboration, Pradip Kumar Das, CMD of IREDA said, “We are pleased to partner with GSL in their pursuit towards adoption of a clean energy solution. The partnership is expected to bring in good practices by leveraging the expertise of both the companies and to push the vision of the Hon’ble Prime Minister for sustainable development of the country through Green Energy. The Govt. of India aims to produce 40 GW of solar power through rooftop solar by the end of 2022, and these collaborations will enable us to contribute to meeting the targets set by the Govt. of India.”

In order to cater to the increasing demand of the RE sector, a dedicated Business Development and Consultancy division was set up by IREDA one and a half years ago.

Under the new division, this is the seventh MoU signed by IREDA within the last 14 months to provide its consultancy services for developers of RE and Energy transition.

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