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 MoU was inked at Atal Akshay Urja Bhawan, New Delhi, by Shri Santosh Kumar Sarangi, Secretary, MNRE, and Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, in the presence of senior officials from both organizations.
As per the agreement, the Government of India has set a Revenue from Operations target of ₹8,200 crore for FY 2025-26. This follows IREDA’s strong performance in FY 2024-25, where it achieved ₹6,743.32 crore in revenue against the target of ₹5,957 crore, thereby surpassing expectations.
The MoU outlines several key performance parameters including Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBITDA, among others. These benchmarks will guide IREDA’s operational and financial performance over the coming year.
Speaking on the occasion, Pradip Kumar Das, CMD of IREDA, expressed confidence in the company’s growth outlook: “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence. IREDA has earned an ‘Excellent’ rating in MoU performance for four consecutive years since FY 2020-21. For FY 2023-24 MoU rating, IREDA emerged as the top performer in the NBFC and Power sector and among the top four CPSEs across sectors, as per a list of 84 CPSEs issued by the Department of Public Enterprises.”
