In a bid to catalyze innovation and research within the renewable energy domain, the Indian Renewable Energy Development Agency (IREDA) and the Indian Institute of Technology, Bhubaneswar, formalized a Memorandum of Understanding (MoU) on Sunday. The agreement is poised to bolster collaborative endeavors in innovation and research, facilitate technology transfer, and cultivate a thriving start-up ecosystem.
The partnership between IREDA and IIT Bhubaneswar will facilitate joint research ventures and technology exchange, and offer comprehensive support to budding start-ups. Additionally, it will encompass capacity-building initiatives such as training programs, seminars, and workshops to enhance the skills of IREDA personnel.
IREDA, a distinguished Mini Ratna (Category – I) enterprise under the Ministry of New and Renewable Energy, has consistently engaged in collaborative efforts to bolster the renewable energy landscape in the nation. In a notable move in September 2023, IREDA entered into an MoU with the Bank of Maharashtra (BoM) to spearhead co-lending and loan syndication endeavors for a diverse array of Renewable Energy projects nationwide.
It also inked MoUs with the Union Bank of India (UBI) and the Bank of Baroda (BoB) to foster co-lending and loan syndication initiatives for a broad spectrum of renewable energy projects.