IREDA and BVFCL sign MoU for Green Energy collaborations

• Under this signed MoU IREDA will be providing its techno-financial expertise in developing Renewable Energy projects and fund raising.
• REDA will undertake Techno-Financial due diligence of Renewable energy, Green Hydrogen, Green Ammonia, Energy Efficiency & conservation projects for BVFCL.
• IREDA will assist BVFCL in developing an action plan to create and acquire Renewable Energy projects for the next 5 years.

• This MoU will support in contributing to achieve Govt. of India target of reducing its carbon emission to 45% by 2030 in line with commitment made by Hon’ble Prime Minister, Shri Narendra Modi in CoP 26.
• Recently, the Ministry of New and Renewable Energy has announced that the country's total installed Renewable Energy capacity, including hydro, crossed 150 gigawatt and out of 150 GW, IREDA has supported more than 19 GW RE installation in the country.
• The MoU with BVFCL is the fifth one signed by IREDA within one year.
• Earlier, IREDA has signed MoUs with SJVN, NHPC, TANGEDCO and NEEPCO to extend its Techno-Financial expertise for Green Energy projects.

Indian Renewable Energy Development Agency Limited (IREDA)

• It is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE).
• IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: “ENERGY FOR EVER”
• IREDA has been notified as a “Public Financial Institution” under section 4 ‘A’ of the Companies Act, 1956 and registered as Non-Banking Financial Company (NFBC) with Reserve Bank of India (RBI).
• IREDA’s mission is “Be a pioneering, participant friendly and competitive institution for financing and promoting self-sustaining investment in energy generation from Renewable Sources, Energy Efficiency and Environmental Technologies for sustainable development.”
• IREDA’s Motto is “Energy for Ever.”

The main objectives of IREDA are :

1. To give financial support to specific projects and schemes for generating electricity and / or energy through new and renewable sources and conserving energy through energy efficiency.
2. To maintain its position as a leading organisation to provide efficient and effective financing in renewable energy and energy efficiency / conservation projects.
3. To increase IREDA`s share in the renewable energy sector by way of innovative financing. 4.Improvement in the efficiency of services provided to customers through continual improvement of systems, processes and resources.
4. To strive to be competitive institution through customer satisfaction.

Brahmaputra Valley Fertilizer Corporation Limited (BVFCL)

• The Namrup Fertilizer Complex was renamed as Brahmaputra Valley Fertilizer Corporation Limited after bi-furcation from Hindustan Fertilizer Corporation Limited from 01/04/02.
• It is located on the bank of dilli river in the south-western border of Dibrugarh District in Assam.
• It is the first factory in India, who use natural gas as basic raw material for producing nitrogenous fertilizer."