In a decisive leadership move for India’s renewable energy finance conduit, Indian Renewable Energy Development Agency Limited (IREDA) has named Jatin Kumar Nayak as Chairman and Managing Director, effective from his assumption of charge on October 30, 2026, through September 30, 2029, or until further orders. The appointment, conveyed by the Ministry of New and Renewable Energy (MNRE), follows a formal order from the President of India and comes with Nayak designated as the Key Managerial Personnel of the company. In parallel, the Board approved his appointment at a meeting held on October 30, 2026, marking a formal transition in the agency’s top leadership core.
Nayak brings four decades of industry experience, with the annexed bio outlining a career deeply rooted in the power sector and resource-intensive industries. Notably, he previously held the role of Executive Director (Finance) at REC Limited, a Maharatna CPSE under the Ministry of Power, and has served as CFO of REC Transmission Projects Company Limited. His career also includes stints with NHPC, Hindustan Copper Limited, NALCO, and Neelachal Ispat Nigam Limited, equipping him with broad expertise in domestic and international resource mobilization, corporate finance, governance, project appraisal and monitoring, and lending operations.
The leadership shift also sees Dr. Bijay Kumar Mohanty, who has been serving as Director (Finance) and CFO, ceasing to hold the additional charge of the CMD post, effective October 30, 2026. Mohanty’s transition underscores a moment of governance refinement as IREDA positions itself for an expanded role in financing and accelerating renewable energy deployment. Nayak’s tenure is slated to run up to the standard retirement horizon unless extended, signaling an intent to steer IREDA through a period of growth and strategic alignment with India’s cleaner energy ambitions.
As IREDA advances its mandate to catalyze renewable energy development, Nayak’s blend of financial stewardship and regulatory awareness is expected to inform a more integrated approach to project financing, risk management, and capability-building across the agency’s portfolios. The appointment, underscored by the MNRE order and board approval, marks a defining chapter for IREDA’s governance and its contributions to the country’s energy transition.