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

The Indian Renewable Energy Development Agency Limited (IREDA) has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India, establishing strategic targets for the fiscal year 2025-26.

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

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

Highlighting the company’s consistent performance, Shri 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 among the top four CPSEs across sectors, as per the Department of Public Enterprises.”