PSE Mini Ratna Ircon International Ltd (IRCON) has signed an MoU with NIIFL and Ayana Renewable Power Private Ltd (AYANA) to explore and collaborate on opportunities in the solar energy sector.

According to the MoU, NIIFL and IRCON will evaluate strategic partnerships across infrastructure projects and have agreed in-principle to identify, bid and execute solar energy projects through joint ventures/consortium arrangements. The partnership will further consider suitable opportunities for solar energy production for Indian Railways as they intend to increase the share of renewables in their overall energy mix. This collaboration will enable the execution of renewable energy projects at scale by utilizing the complementary strengths of all partners.