HRIDC inks pact with REMCL to develop renewable energy.

Haryana Rail Infrastructure Development Corporation Ltd. (HRIDC) -- a joint venture of the Haryana government and Union railway ministry -- on Monday signed an agreement with REMCL for development of renewable energy projects in the state. Railway Energy Management Company Limited (REMCL) is a joint venture between the rail ministry and RITES Ltd. The agreement was signed at the HRIDC office at Sector 44 Gurugram.

Under the agreement, the two companies will collaborate to explore areas of renewable energy projects (wind, solar and hybrid) related to net-zero carbon emission targets of the Indian Railways.

Both the companies would leverage their strengths to explore in sectors and thematic areas involving various types of project advisory services assignments related to renewable energy projects (wind, solar, hybrid) in India.

HRIDC managing director Rajesh Agarwal said that it would identify green energy projects in Haryana for the purpose of obtaining technical expertise of consultancy, execution and implementation through developers by REMC in their territories.

Chief executive officer of REMCL A K Singhal said that at a time when the transportation industry is going through massive changes, it's important to come up with solutions that are environment friendly. HRIDC has taken a step in the right direction by signing this agreement with REMCL.

ET