JREDA is a state nodal agency for the implementation of renewable energy projects by means of financial incentives made available by the Ministry of New and Renewable Energy (MNRE), Govt. of India and Government of Jharkhand and State Designated Agency (SDA) for implementation of Energy Efficiency projects by means of financial incentives made available by Bureau of Energy Efficiency (BEE).

State of Jharkhand has potential for the development of other renewable energy sources like Small Hydel Plant (SHPs), Bio-mass based plants etc. JREDA has launched several schemes for the development of renewable energy portfolio across the state and also exploring opportunities for the development of new renewable energy sources.