IREDA signs MoU with MNRE, ₹8,200 crore target

Indian Renewable Energy Development Agency Limited (IREDA) signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India.

• Main announcement: MoU signed by Shri Santosh Kumar Sarangi (Secretary, MNRE) and Shri Pradip Kumar Das (CMD, IREDA) at Atal Akshay Urja Bhawan, New Delhi; Government set a Revenue from Operations target of ₹8,200 crores for FY 2025-26; IREDA had exceeded its FY 2024-25 revenue target, achieving ₹6,743.32 crores against a target of ₹5,957 crores.
• Background and KPIs: MoU includes performance parameters such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBTDA; IREDA received an ‘Excellent’ MoU rating for four consecutive years since FY 2020-21 and was a top performer in NBFC and Power sector for FY 2023-24 per a list of 84 CPSEs by the Department of Public Enterprises.