Question : MoU with IREDA and THDC India Limited

(a) whether the Indian Renewable Energy Development Agency Ltd. (IREDA) has signed any Memorandum of Understanding (MoU) with THDC India Ltd. in the recent past;
(b) if so, the details and the salient features of the said MoU;
(c) whether IREDA has proposed to extend its techno-commercial expertise to THDC India Ltd. for the projects as per the internationally accepted Environmental and Social (E&S) standards;
(d) if so, the details thereof; and
(e) the extent to which the country would be able to reduce carbon emissions on implementation of the said MoU?

THE MINISTER OF NEW & RENEWABLE ENERGY AND POWER
(SHRI R.K. SINGH)

(a) & (b) Yes, Sir. IREDA has signed an MoU with THDC India Ltd. on 03.12.2021 to provide consultancy services to THDC India Ltd. (THDCIL) for the activities as given below.
i. To undertake Techno-Financial due diligence (excluding Accounting & tax and Legal due diligence) of renewable energy & energy efficiency / conservation projects.
ii. Assisting in developing an action plan to create & acquire RE projects (as the case may be) for the next 5 years.
iii. Offer due diligence as per point (i) above, and ascertain valuation of brownfield assets, and also provide assistance for acquisition of such assets including financial modelling & returns statement.
iv. Prepare reports on Environmental & Social (E&S) due diligence of renewable energy & energy efficiency/ conservation projects to be acquired or developed by THDCIL as per the internationally accepted E&S standards.
v. Development of E&S management plans (ESMP) for the renewable energy & energy efficiency/ conservation projects to be acquired or developed by THDCIL.
vi. Capacity building of the project staff to ensure effective implementation of the ESMP developed for the projects.
(c)&(d) Yes, Sir. IREDA has proposed to available its techno-commercial expertise to THDC India Ltd. for the projects as per the internationally accepted Environmental and Social (E&S) standards. IREDA’s support on E&S aspects will be as per the Environmental and Social Management System of IREDA, which has been developed considering internationally accepted standards i.e. IFC Performance Standards, ADB Safeguard Policy Statement and World Bank Environmental & Social Standards.
(e) The reduction in country’s carbon emissions on implementation of the MoU will be through facilitation of renewable energy generation projects.
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