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The Indian Renewable Energy Development Agency Ltd (IREDA) inked a memorandum of understanding with the Central Institute of Petrochemicals Engineering and Technology (CIPET) on Friday to offer techno-financial expertise for solarization of its campuses. IREDA and CIPET are administered by the Ministries of New and Renewable Energy (MNRE) and Chemicals and Fertilizers, respectively. The MNRE stated, "IREDA today signed a Memorandum of Understanding (MoU) with CIPET to provide techno-financial expertise for solarization of CIPET campuses." Pradip Kumar Das, chairman and managing director (CMD), IREDA, and Shishir Sinha, director general, CIPET, signed a memorandum of understanding (MoU). Under the terms of the agreement, IREDA will assist CIPET in solarizing its multiple academic campuses by building solar PV or rooftop solar projects. The initiative is most likely to begin at CIPET's campuses in Uttar Pradesh's Varanasi and Ayodhya, as well as Karnataka's Bidar.

CIPET will be able to minimise its electricity costs and reduce its carbon impact as part of the MoU by establishing solar power plants on its academic sites.

"The partnership is intended to bring in best practises by integrating the knowledge of both organisations and to further the Hon'ble Prime Minister's goal for the country's long-term progress through green energy," said IREDA's CMD Pradip Kumar Das. The government's goal is to get 50% of its energy from renewable sources, and these partnerships will help us accomplish the goal, he added.

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