IREDA Appoints Jatin Kumar Nayak As CMD; To Head Renewable Energy Lender Until 2029

Indian Renewable Energy Development Agency Ltd (IREDA) has appointed Jatin Kumar Nayak as its Chairman and Managing Director (CMD), with effect from Oct. 30, 2026. The appointment was conveyed by the Ministry of New and Renewable Energy (MNRE) through an order dated Oct. 29. Nayak will hold the position until his superannuation on September 30, 2029, or until further orders, whichever is earlier, according to the company's regulatory filing. He assumed charge of the post on October 30 in the afternoon.

IREDA's board of directors, at a meeting held on October 30, approved his appointment as CMD on the company's board and designated him as a key managerial personnel, effective from the date he assumed charge.

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The company also disclosed that Nayak has declared he is not debarred from holding the office of director under any order issued by the Securities and Exchange Board of India (SEBI) or any other authority.

Following Nayak's appointment, Dr Bijay Kumar Mohanty, Director (Finance) and Chief Financial Officer of IREDA, ceased to hold the additional charge of CMD with effect from October 30, 2026. Mohanty had been handling the additional responsibility of the top post before the appointment of a regular CMD.

Who Is Jatin Kumar Nayak?

Nayak brings more than 34 years of professional experience across the power sector and resource-intensive industries, including mining and metals. Before joining IREDA as CMD, he served as Executive Director (Finance) at REC Ltd, a Maharatna central public sector enterprise under the Ministry of Power. He had also worked as Chief Financial Officer of the erstwhile REC Transmission Projects Company Ltd, a subsidiary of REC.

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Earlier in his career, Nayak held positions at NHPC Ltd, Hindustan Copper Ltd, National Aluminium Company Ltd (NALCO) and Neelachal Ispat Nigam Ltd. He holds a master's degree in commerce from Utkal University in Bhubaneswar, Odisha. He is also a fellow member of the Institute of Cost Accountants of India and a qualified company secretary.

His professional experience spans domestic and international resource mobilisation, strategic treasury management, corporate finance, taxation and legal affairs. He also has expertise in project appraisal and monitoring, lending operations, loan recovery and stressed asset management.

IREDA's Role In Renewable Energy Financing

IREDA is a public sector financial institution under the administrative control of the Ministry of New and Renewable Energy. It provides financial assistance for projects across renewable energy and other sustainable energy segments. Nayak's experience in power-sector financing, treasury management and lending operations comes as the agency continues to play a role in financing India's renewable energy expansion.

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