New Delhi: 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) for the financial year 2026-27. The agreement outlines strategic performance targets for the renewable energy financing agency and aims to align its operations with the government’s broader clean energy objectives.
The MoU was signed at Atal Akshay Urja Bhawan in New Delhi by Santosh Kumar Sarangi, Secretary, MNRE, and Dr. Bijay Kumar Mohanty, Chairman and Managing Director (CMD) of IREDA.
Anupam Kumar, Joint Secretary, MNRE, along with other senior officials from MNRE and IREDA, attended the signing ceremony.
IREDA and MNRE MoU Focuses on Annual Performance Targets
The performance-based MoU establishes targets for IREDA for FY 2026-27, providing a framework for the agency’s performance and operational priorities during the financial year.
The key objectives of the agreement include:
- Setting performance targets for IREDA for FY 2026-27.
- Aligning the agency’s operations with the government’s broader clean energy objectives.
- Supporting renewable energy financing and investments in the sector.
- Contributing to India’s long-term sustainable development goals.
The agreement provides a framework to guide IREDA’s efforts towards achieving its annual targets while supporting the country’s renewable energy ambitions.
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Dr. Bijay Kumar Mohanty Highlights MNRE’s Support
Following the signing of the MoU, IREDA CMD Dr. Bijay Kumar Mohanty expressed gratitude to the Ministry of New and Renewable Energy for its continued guidance and support.
He said, “We are grateful to Ministry of New & Renewable Energy for their continued guidance and support. With clear goals set for the year, our team will work hard like earlier years and contribute their best to achieve the ultimate goal of Viksit Bharat.”
Mohanty’s remarks highlighted IREDA’s commitment to achieving the performance targets set for the financial year and contributing to the government’s vision of Viksit Bharat.
The signing of the agreement reinforces coordination between MNRE and IREDA in advancing renewable energy financing and supporting India’s clean energy transition.
About IREDA
Indian Renewable Energy Development Agency Limited (IREDA) is a public sector enterprise under the Ministry of New and Renewable Energy, Government of India. It is a specialised non-banking financial institution that provides financial assistance for renewable energy and energy efficiency projects. Through its financing activities, IREDA supports clean energy infrastructure development and contributes to India’s renewable energy expansion and sustainability objectives.
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