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 strategic targets for the fiscal year 2025-26.
The MoU was signed at Atal Akshay Urja Bhawan, New Delhi, by Shri Santosh Kumar Sarangi, Secretary, MNRE, and Pradip Kumar Das, Chairman & Managing Director, IREDA, in the presence of senior officials from both MNRE and IREDA.
As per the MoU, the Government of India has set a Revenue from Operations target of ₹8,200 crores for FY 2025-26. IREDA had surpassed its Revenue from Operations target in FY 2024-25, recording ₹6,743.32 crores against a target of ₹5,957 crores. The MoU also outlines key performance indicators including Return on Net Worth, Return on Capital Employed, Non-Performing Assets (NPA) to Total Loans ratio, Asset Turnover Ratio, and EBTDA among others.
Pradip Kumar Das, CMD of IREDA, expressed optimism about the company’s growth, stating, “We are hopeful of maintaining our strong performance this year as well and remain dedicated to upholding our record of excellence. IREDA has consistently received an ‘Excellent’ rating in MoU performance for four consecutive years since FY 2020-21. For the FY 2023-24 MoU rating, IREDA was the top performer in the NBFC and Power sectors and ranked among the top four CPSEs across sectors out of 84 CPSEs, according to the Department of Public Enterprises.”
