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IREDA and Goa Shipyard Ltd sign memorandum of understanding (MOU) for rooftop solar energy projects

Goa Shipyard Limited

Created at 01 Feb 2022 06:02

IREDA today signed a Memorandum of Understanding (MoU) with Goa Shipyard Limited (GSL) to provide technical and financial assistance for the establishment of a rooftop solar power project. Both organizations are public sector undertakings (PSUs), reporting to the Ministry of New and Renewable Energy and the Ministry of Defense, respectively.

The MoU was signed in the presence of top authorities by Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA, and CMDE. Bharat Bhushan Nagpal, CMD, GSL.

Under the terms of the MoU, IREDA will support GSL in establishing a rooftop solar energy project at the company's headquarters in Vasco da Gama, Goa. IREDA will also provide GSL with technical and commercial experience for conducting Environmental and Social (E&S) due diligence on rooftop solar and other renewable energy projects in accordance with internationally recognized E&S standards. GSL will be able to cut its electricity costs and carbon impact by installing a rooftop solar energy system on its building. Pradip Kumar Das, CMD, IREDA, said on the partnership, "We are glad to join GSL in their search for a sustainable energy solution." The agreement is intended to promote best practices by using the experience of both organizations and to further the Hon'ble Prime Minister's goal for the country's sustainable development through green energy. The Government of India's goal is to generate 40 GW of solar energy via rooftop solar by the end of 2022, and these alliances will enable us to contribute to attaining that goal.

To meet the growing demand in the RE industry, IREDA established a specialized Business Development and Consultancy section one and a half years ago. This is the eighth Memorandum of Understanding inked by IREDA under the new division in the last 14 months to provide consulting services to developers of renewable energy and energy transition projects. IREDA previously signed MoUs with SJVN, NHPC, TANGEDCO, NEEPCO, BVFCL, and THDCIL to leverage its techno-financial expertise for green energy projects.

IREDA looks forward to expanding its consultancy services to additional public-sector entities and private-sector organizations in order to contribute to the general growth of the RE sector.

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