Jatin Kumar Nayak Takes Charge as IREDA Chairman and Managing Director

The Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency (IREDA) is now Jatin Kumar Nayak. Prior to assuming this new role, he was Executive Director (Finance) of REC Ltd. He has had several roles in finance and leadership within the power and resource sectors. With over 30 years’ experience, he brings knowledge in corporate finance, project evaluation, resource mobilization and finance.

Who is Jatin Kumar Nayak?

Jatin Kumar Nayak is a Financial expert with over 30 years’ experience in the power, mining and metals industries. He now works as the CMD of IREDA having previously worked as Executive Director (Finance) at REC Ltd.

Throughout his career, he has worked witharious public sector companies such as,

• REC Ltd.
• NHPC Ltd.
• Hindustan Copper Ltd.
• National Aluminium Company Ltd (NALCO).
• Neelachal Ispat Nigam Ltd.

Along with being CFO at the former REC Transmission Projects Company Ltd, a subsidiary of REC.

Jatin Kumar Nayak has had experience working in resource mobilization both domestically and internationally, treasury strategy, corporate finance, taxation, legal work, project evaluation, lending and loan recovery and bad debt.

Jatin Kumar Nayak’s Education

Nayak has a background in commerce, cost management and corporate.

He has the following qualifications,

• Master of Commerce from Utkal University, Bhubaneswar, Odisha
• Fellow Member of the Institute of Cost and Management Accountants of India
• Qualified Company Secretary

IREDA – What is it?

The Indian Renewable Energy Development Agency Limited is a state-owned financial institution that provides funding for renewable energy and energy efficiency projects in India.

It falls under the administration of the Ministry of New and Renewable Energy (MNRE).

IREDA helps fund the move to cleaner energies in India by supporting various renewable energy projects.

Some of its main roles include,

• Providing loans for renewable energy projects
• Funding solar and wind power projects
• Supporting hydropower and bioenergy projects
• Funding energy efficiency and conservation projects
• Resource mobilization for clean energy development
• Investment support for new areas within the renewable energy sector.

IREDA’s Role in Renewable Energy Development in India

India have ambitious goals when it comes to renewable energy.

IREDA helps support this by providing funding to project developers and companies involved in renewables.

This helps overcome the high costs associated with solar parks, wind, hydro, bioenergy and other clean energy projects.