IREDA Signs Performance-Based MoU With MNRE for FY 2026–27

Indian Renewable Energy Development Agency Limited (IREDA), a Navratna Central Public Sector Enterprise under the Ministry of New and Renewable Energy (MNRE), has signed a performance-based Memorandum of Understanding (MoU) with the ministry for the financial year 2026–27.

The agreement was signed on October 5, 2026, at Atal Akshay Urja Bhawan in New Delhi. Santosh Kumar Sarangi, Secretary, MNRE, and Dr. Bijay Kumar Mohanty, Chairman and Managing Director, IREDA, signed the MoU in the presence of senior officials from both organizations, including Anupam Kumar, Joint Secretary, MNRE.

The performance-based MoU sets out strategic targets and key operational expectations for IREDA during FY 2026–27. The agreement is intended to align the renewable energy financier’s organizational performance with the government’s broader renewable energy and national development priorities.

Following the signing, IREDA informed the National Stock Exchange of India Limited (NSE) and BSE Limited about the development through a regulatory filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was authorized and submitted by Ekta Madan, Company Secretary, IREDA.

Speaking at the signing ceremony, Dr. Bijay Kumar Mohanty thanked the Ministry of New and Renewable Energy for its continued support and strategic guidance. He said that the establishment of clear operational targets for the new financial year would help the organization maintain its strong performance record.

IREDA plays a key role in financing renewable energy projects across India. As a specialized government-owned financial institution, it provides financial support for renewable energy and related projects, helping facilitate investment and capacity development in the sector.

The company stated that its objectives for FY 2026–27 will remain aligned with government policies and national priorities, including the broader vision of Viksit Bharat. The MoU is expected to provide a structured framework for monitoring IREDA’s performance and strengthening its contribution to India’s clean energy transition.