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, resource mobilisation and lending operations to the renewable-energy financing institution.
IREDA confirmed the appointment in a company statement. Nayak previously served as Executive Director (Finance) at REC Ltd, where he held senior responsibilities in corporate finance and related areas.
Before joining IREDA, Nayak was the Chief Financial Officer of the erstwhile REC Transmission Projects Company Ltd, a subsidiary of REC. His professional experience also includes assignments with NHPC, Hindustan Copper, National Aluminium Company Ltd (NALCO) and Neelachal Ispat Nigam Ltd.
According to the statement, Nayak’s experience covers the power sector as well as resource-intensive industries such as mining and metals. His responsibilities across these organisations have included domestic and international resource mobilisation, strategic treasury management, corporate finance, taxation and legal affairs.
The company also cited his experience in project appraisal and monitoring, lending operations, loan recovery and stressed-asset management. These functions are closely connected with the financial assessment and oversight of large infrastructure and energy projects, although the statement did not outline any new project, lending target or policy initiative accompanying his appointment.
Nayak’s appointment had earlier been approved by the Appointments Committee of the Cabinet. The approval cleared the way for him to assume charge at IREDA, which operates in the renewable-energy financing space.
His appointment comes with a professional background spanning public-sector power companies and resource-sector enterprises. REC, where he held his previous senior position, is a major power-sector financing institution, while NHPC, NALCO and Hindustan Copper have operated across power generation, metals and mining. The experience listed by IREDA therefore covers both financial management and sectors requiring significant capital investment.
Nayak holds a Master’s degree in Commerce from Utkal University in Bhubaneswar, Odisha. He is also a fellow member of the Institute of Cost and Management Accountants of India and a qualified Company Secretary.
IREDA’s statement did not provide details of the tenure attached to the appointment, the leadership transition process or any immediate changes in the agency’s financing priorities. It also did not announce new schemes, project approvals or revised lending terms. The immediate confirmed development is Nayak’s assumption of charge as Chairman and Managing Director, following the earlier approval by the Appointments Committee of the Cabinet.
