IREDA signs MoU with MNRE to set ₹8,200 crore target for FY 2025-26

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) to set strategic targets for the fiscal year 2025-26.

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

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

Under the MoU, the Government of India has set a revenue from operations target of ₹8,200 crores for FY 2025-26. IREDA had exceeded its Revenue from Operations target in FY 2024-25, achieving ₹6,743.32 crores against the target of ₹5,957 crores. The MoU also includes key performance parameters such as return on net worth, return on capital employed, NPA to total loans, asset turnover ratio, and EBITDA, among other targets.

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 the FY 2023-24 MoU rating, IREDA emerged as the top performer in the NBFC and power sectors and among the top four CPSEs across sectors, as per a list of 84 CPSEs issued by the Department of Public Enterprises.