Under the MoU, the Government of India has set a revenue from operations target of Rs 8,200 crores for FY 2025-26

Indian Renewable Energy Development Agency (Ireda) has signed a performance-based memorandum of understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), setting a revenue from operations target of Rs 8,200 crore for FY 2025-26.

The MoU was signed at Atal Akshay Urja Bhawan, New Delhi, by MNRE Secretary Santosh Kumar Sarangi and Ireda Chairman and Managing Director Pradip Kumar Das, in the presence of senior officials from both organisations.

For FY 2024-25, Ireda exceeded its revenue target of Rs 5,957 crore, achieving Rs 6,743.32 crore. The fresh MoU includes performance parameters such as return on net worth, return on capital employed, non-performing assets (NPAs) to total loans, asset turnover ratio and earnings before tax, depreciation and amortisation (EBITDA).

Expressing confidence in Ireda’s trajectory, Das said the company was committed to sustaining its record of excellence. “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence,” said Irdea’s CMD.

As per release, Ireda has secured an ‘Excellent’ MoU rating for four consecutive years since FY 2020-21. For FY 2023-24, it was rated the top performer in the non-banking financial company (NBFC) and power sector category and ranked among the top four central public sector enterprises (CPSEs) across all sectors, as per a Department of Public Enterprises assessment of 84 CPSEs.