Jatin Kumar Nayak has taken charge as Chairman and Managing Director of the Indian Renewable Energy Development Agency (IREDA), bringing more than three decades of experience in power-sector finance, lending operations and resource mobilisation to the renewable-energy financier.
IREDA announced the appointment in a company statement. Nayak was previously Executive Director (Finance) at REC Ltd, where he also served as Chief Financial Officer of the erstwhile REC Transmission Projects Company Ltd, a subsidiary of REC.
The appointment had earlier been approved by the Appointments Committee of the Cabinet. Nayak’s responsibilities at IREDA will place his experience in corporate finance, project appraisal, treasury management, loan recovery and stressed-asset management within an institution focused on financing renewable-energy projects.
According to the company statement, Nayak’s professional experience spans the power sector as well as resource-intensive industries, including mining and metals. Before his roles at REC, he worked with NHPC, Hindustan Copper, National Aluminium Company Ltd (NALCO) and Neelachal Ispat Nigam Ltd.
The experience profile is significant for IREDA’s institutional role because renewable-energy financing involves project evaluation, lending operations, recovery management and access to domestic and international sources of capital. The company statement also listed taxation, legal affairs and strategic treasury management among Nayak’s areas of expertise.
IREDA’s new chairman and managing director holds a Master’s degree in Commerce from Utkal University in Bhubaneswar, Odisha. He is a fellow member of the Institute of Cost and Management Accountants of India and a qualified Company Secretary.
The company did not provide details in the statement on any new financing targets, policy changes or project announcements linked to the leadership transition. Nayak’s immediate institutional priorities and the agency’s next programme milestones will therefore depend on subsequent official communications from IREDA.
