IREDA Signs Performance MoU with MNRE, Sets ₹8,200 Crore Revenue Target for FY 2025-26

Indian Renewable Energy Development Agency Limited (IREDA) today signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India, setting ambitious targets for the financial year 2025-26.

The MoU was signed at Atal Akshay Urja Bhawan, New Delhi, by Santosh Kumar Sarangi, Secretary, MNRE, and Pradip Kumar Das, Chairman & Managing Director, IREDA, in the presence of senior officials from both organizations.

As per the MoU, the Government of India has set a Revenue from Operations target of ₹8,200 crore for IREDA in FY 2025-26. In the previous fiscal year, IREDA surpassed its target of ₹5,957 crore by achieving ₹6,743.32 crore. The MoU also outlines key performance parameters, including Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBTDA.

Commenting on the development, Pradip Kumar Das, CMD, IREDA, said: “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence. IREDA has earned an ‘Excellent’ rating in MoU performance for four consecutive years since FY 2020-21. For FY 2023-24, IREDA emerged as the top performer in the NBFC and Power sector, and ranked among the top four CPSUs across sectors, as per the list of 84 CPSUs issued by the Department of Public Enterprises.”