Indian Renewable Energy Development Agency Limited (IREDA) has inked a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India, setting ambitious operational and financial goals for the fiscal year 2025-26.
The MoU was formalised at Atal Akshay Urja Bhawan, New Delhi, with signatures exchanged between Santosh Kumar Sarangi, Secretary, MNRE and Pradip Kumar Das, CMD, IREDA. The ceremony was attended by senior officials from both MNRE and IREDA.
As per the agreement, IREDA has been assigned a Revenue from Operations target of ₹8,200 crore for FY 2025-26. This follows the company’s strong performance in FY 2024-25, when it surpassed expectations by recording revenues of ₹6,743.32 crore against a target of ₹5,957 crore.
The MoU outlines key performance parameters, including Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBTDA, among others, to ensure a holistic evaluation of IREDA’s performance.
Speaking on the occasion, Pradip Kumar Das expressed optimism about maintaining the company’s growth momentum. He said, “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence.”
IREDA has consistently demonstrated robust results, earning an ‘Excellent’ rating in MoU performance for four consecutive years since FY 2020-21. For FY 2023-24, the agency was ranked the top performer in the NBFC and Power sector and among the top four Central Public Sector Enterprises (CPSEs) across all sectors, as per the Department of Public Enterprises’ evaluation of 84 CPSEs.
The latest MoU signing reinforces IREDA’s pivotal role in financing and promoting renewable energy development in India, aligning with the nation’s clean energy transition goals.
