Quick Summary: Indian Renewable Energy Development Agency (IREDA) has signed a performance-based MoU with the Ministry of New and Renewable Energy (MNRE) for FY 2025-26, setting a revenue target of ₹8,200 crore. The MoU outlines key financial and operational benchmarks, building on IREDA’s track record of exceeding targets and securing top performance ratings among CPSEs.
Full Article: The Indian Renewable Energy Development Agency Limited (IREDA) has entered into a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India, establishing strategic targets for the financial year 2025-26.
The MoU was formalized at Atal Akshay Urja Bhawan, New Delhi, in the presence of senior officials from both organizations. It was signed by Shri Santosh Kumar Sarangi, Secretary, MNRE, and Shri Pradip Kumar Das, Chairman and Managing Director, IREDA.
As part of the agreement, the Government has set a revenue from operations target of ₹8,200 crore for FY 2025-26. In the previous financial year, IREDA surpassed its assigned target by achieving ₹6,743.32 crore in revenue, against a goal of ₹5,957 crore.
The MoU also incorporates several key performance parameters, including Return on Net Worth, Return on Capital Employed, Non-Performing Assets (NPA) to Total Loans, Asset Turnover Ratio, and Earnings Before Tax, Depreciation, and Amortization (EBTDA).
Commenting on the development, Shri Pradip Kumar Das expressed confidence in sustaining the company’s strong performance record. IREDA has consistently received an “Excellent” rating in MoU evaluations for four consecutive years since FY 2020-21. For FY 2023-24, the agency was ranked as the top performer in the NBFC and Power sector and among the top four Central Public Sector Enterprises (CPSEs) across all sectors, according to the Department of Public Enterprises.