New Delhi, Mar 11 (PTI) The Indian Renewable Energy Development Agency Ltd (IREDA) on Friday signed a pact with the Central Institute of Petrochemicals Engineering & Technology (CIPET) to provide techno-financial expertise for solarisation of its campuses.

IREDA and CIPET function under the Ministry of New and Renewable Energy (MNRE) and the Ministry of Chemicals and Fertilizers, respectively.

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"IREDA today signed a Memorandum of Understanding (MoU) with CIPET to provide techno-financial expertise for solarization of CIPET campuses," the MNRE said.

The memorandum of understanding (MoU) was signed between Pradip Kumar Das, chairman and managing director (CMD), IREDA and Shishir Sinha, director general, CIPET.

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Under the MoU, IREDA will help CIPET to solarise its numerous academic campuses by installing solar PV or rooftop solar projects.

The project is most likely to begin at CIPET's campuses located in Varanasi and Ayodhya in Uttar Pradesh and Bidar in Karnataka.

As part of the MoU, CIPET will be able to lower its electricity expenditure and reduce its carbon footprint by installing solar power plants at its academic campuses.

IREDA's CMD Pradip Kumar Das said, "The agreement is expected to bring in best practises by combining the experience of both organisations and to advance the Hon'ble Prime Minister's vision for the country's long-term growth through green energy."

The government aims to source 50 per cent of its energy from renewable sources, and these partnerships will help us accomplish the goal, he added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)