PESB Recommends Jatin Kumar Nayak as CMD of IREDA; REC Executive Director to Lead Renewable Energy Financing PSU – Indian PSU
Public Enterprises Selection Board (PESB) has recommended Jatin Kumar Nayak, Executive Director (Finance) at REC Limited, for appointment as the next Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Limited.
The recommendation was made during PESB Meeting No. 49/2026 held on Friday, following a competitive selection process involving ten senior executives from leading public sector enterprises and government organizations. The CMD position at IREDA is a Schedule ‘A’ post and is considered one of the most important leadership roles in India’s clean energy financing ecosystem.
Competitive Selection Process
The PESB interviewed candidates from several prominent organizations, including IREDA, REC Limited, GAIL, RailTel, Indian Oil Corporation, BSNL, the Ministry of Railways, and Central Electronics Limited.
The candidates who appeared before the Board included:
- Surendra Kumar Sharma, Executive Director (Finance), IREDA
- Dhiraj Mehta, Executive Director (Finance), IREDA
- Prabhat Kumar Singh, REC Limited
- Ayush Gupta, GAIL (India) Limited
- Vippagunta Rama Manohara Rao, RailTel Corporation of India Limited
- Krishna Mohan Srivastava, BSNL
- Dr. Ajit Kumar Thakur, Indian Oil Corporation Limited
- Dr. Pudi Hariprasad, Ministry of Railways
- Chetan Prakash Jain, Central Electronics Limited
Following the interviews and evaluation of professional credentials, leadership capabilities, and sectoral experience, PESB selected Jatin Kumar Nayak for recommendation to the Appointments Committee of the Cabinet (ACC) for final approval.
Strong Background in Finance and Power Sector
Nayak currently serves as Executive Director (Finance) at REC Limited, one of India’s leading power sector financing institutions. During his tenure, he has been associated with financial planning, resource mobilization, project financing, and strategic initiatives supporting the country’s power infrastructure development.
His extensive experience in finance and the energy sector is expected to strengthen IREDA’s position as the premier financing agency supporting renewable energy projects across the country.
Critical Time for Renewable Energy Growth
The appointment assumes significance as India accelerates its clean energy transition and pursues ambitious renewable energy capacity targets. IREDA plays a pivotal role in financing projects related to solar power, wind energy, green hydrogen, battery energy storage systems, bioenergy, and energy efficiency.
With increasing investments flowing into the renewable energy sector, IREDA’s leadership will be instrumental in expanding access to affordable financing and supporting the government’s objective of building a sustainable and low-carbon energy ecosystem.
Strategic Importance for IREDA
Industry observers believe that Nayak’s financial expertise and deep understanding of the power sector will help IREDA further strengthen its lending portfolio, improve operational efficiency, and enhance its contribution to India’s energy transition agenda.
As the country’s flagship green financing institution continues to expand its footprint, the new leadership is expected to play a crucial role in mobilizing capital for emerging clean energy technologies and supporting India’s long-term climate and sustainability goals.
The recommendation now awaits approval from the Appointments Committee of the Cabinet before Nayak formally assumes charge as CMD of IREDA.
The present CMD of IREDA, Pradip Kumar Das will retire on 30 June 2026.
