New Delhi: 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, setting ambitious financial and operational targets for FY 2025-26.
Revenue Target Fixed at ₹8,200 Crore
The MoU sets a Revenue from Operations target of ₹8,200 crore for IREDA in the current fiscal year. This comes on the back of strong performance in FY 2024-25, where the company exceeded its target of ₹5,957 crore and achieved ₹6,743.32 crore.
The agreement 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 both organizations.
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Performance Parameters to Drive Growth
Along with revenue, the MoU outlines critical performance indicators. These include Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBTDA, among others. These benchmarks are aimed at strengthening accountability and ensuring sustainable growth in line with India’s renewable energy ambitions.
IREDA’s Consistent Excellence
Expressing confidence, 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 secured an ‘Excellent’ rating in MoU performance for four consecutive years since FY 2020-21. For FY 2023-24, the company was recognized as the top performer in the NBFC and Power sector, and ranked among the top four CPSEs across sectors, according to the Department of Public Enterprises’ assessment of 84 CPSEs.
About IREDA
The Indian Renewable Energy Development Agency Limited (IREDA), a Mini Ratna (Category-I) Government of India enterprise under the MNRE, is a key financial institution dedicated to promoting, developing, and extending financial assistance for renewable energy and energy efficiency projects across the country. Established in 1987, IREDA continues to play a vital role in driving India’s clean energy transition.
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