Indian Renewable Energy Development Agency (IREDA) and the Brahmaputra Valley Fertilizer Corporation (BVFCL) have entered into a memorandum of understanding (MoU) for developing renewable energy projects. Both companies are PSUs, under the Ministry of New & Renewable Energy and the Ministry of Chemicals & Fertilizers respectively.
As per the MoU signed, IREDA will undertake techno-financial due diligence of renewable energy, green hydrogen, energy efficiency and conservation projects for Brahmaputra Valley Fertilizer Corporation.
This is the fifth MoU signed by IREDA within one year. Earlier, IREDA has signed MoUs with SJVN, NHPC, TANGEDCO and NEEPCO to extend its techno-financial expertise for renewable energy projects.
This MoU is in line to support the Government of India’s target of reducing its Carbon emissions to 45 percent by 2030.