IREDA Signs Performance MoU with MNRE, Sets ₹8200 Crore Revenue Target for FY 2025-26
The MoU is expected to provide strategic direction for IREDA as it supports India’s renewable energy ambitions and aligns with the national mission of achieving a sustainable, low-carbon economy.
New Delhi, August 25: The Indian Renewable Energy Development Agency Limited (IREDA) on Monday signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), setting a Revenue from Operations target of ₹8,200 crore for FY 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 organisations.
Targets and Key Parameters
Alongside the revenue target, the MoU outlines performance parameters including Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBTDA. The framework is designed to strengthen accountability and ensure alignment with the government’s renewable energy goals.
In FY 2024-25, IREDA outperformed its set target, achieving ₹6,743.32 crore in Revenue from Operations against a target of ₹5,957 crore. The strong performance highlights IREDA’s pivotal role as a non-banking financial company (NBFC) in financing India’s clean energy transition.
CMD’s Statement
Expressing optimism, 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.”
He further noted that IREDA was the top performer in the NBFC and Power sector in the FY 2023-24 MoU ratings and ranked among the top four CPSEs across all sectors, according to the Department of Public Enterprises.
The MoU is expected to provide strategic direction for IREDA as it supports India’s renewable energy ambitions and aligns with the national mission of achieving a sustainable, low-carbon economy.
