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), Government of India, for the financial year 2025-26. The agreement establishes strategic performance benchmarks and sets a revenue from operations target of ₹8,200 crore.
The MoU was formalized at Atal Akshay Urja Bhawan in New Delhi, where it was signed by MNRE Secretary Santosh Kumar Sarangi and IREDA Chairman & Managing Director Pradip Kumar Das, in the presence of senior officials from both organizations.
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IREDA Revenue Target for FY 2025-26
Under the MoU, IREDA is tasked with achieving ₹8,200 crore in revenue from operations during FY 2025-26. In the previous financial year (FY 2024-25), the company outperformed expectations by securing ₹6,743.32 crore in revenue, surpassing the set target of ₹5,957 crore.
Performance Parameters Defined in MoU
The agreement also outlines critical performance indicators, including Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBTDA.
These benchmarks are designed to strengthen IREDA’s operational efficiency and financial stability while supporting India’s renewable energy goals.
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IREDA’s Track Record of Excellence
Speaking on the occasion, CMD Pradip Kumar Das expressed confidence in sustaining the company’s growth momentum. He emphasized that the company has consistently maintained an “Excellent” MoU rating for four consecutive years since FY 2020-21.
Notably, in FY 2023-24, IREDA was recognized as the top performer among Non-Banking Financial Companies (NBFCs) and Power sector CPSEs, while ranking among the top four CPSEs across all 84 evaluated entities, according to the Department of Public Enterprises.
