Jatin Kumar Nayak Assumes Charge as CMD of IREDA

Jatin Kumar Nayak has assumed charge as the Chairman and Managing Director of the Indian Renewable Energy Development Agency (IREDA), according to a company statement. Prior to taking up this role, Nayak served as the Executive Director (Finance) at REC Ltd.

Nayak brings over three decades of professional experience across the power sector and resource-intensive industries, including mining and metals. Earlier in his career, he held the position of Chief Financial Officer at REC Transmission Projects Company Limited, a subsidiary of REC. His professional background also includes stints at NHPC, Hindustan Copper, National Aluminium Company Ltd (NALCO), and Neelachal Ispat Nigam Ltd.

Throughout his career, Nayak has gained substantial expertise in several financial and operational domains. His professional exposure covers domestic and international resource mobilisation, strategic treasury management, corporate finance, taxation, and legal affairs. Additionally, he has experience in project appraisal and monitoring, lending operations, loan recovery, and stressed asset management.

Academically, Nayak holds a Master’s degree in Commerce from Utkal University, Bhubaneswar, Odisha. He is also a fellow member of the Institute of Cost and Management Accountants of India and a qualified Company Secretary. His appointment to the top post at IREDA had earlier received approval from the Appointments Committee of the Cabinet (ACC).

"The appointment of a seasoned finance professional like Jatin Kumar Nayak to head IREDA highlights the critical role of strong financial leadership in the renewable energy sector. With over three decades of experience in resource mobilization, corporate finance, and asset management, his background will be vital for managing capital-intensive projects and navigating the complexities of financing sustainable infrastructure development in India." — Dr. Shishir Gupta, Founder & CEO, StartupLanes