IREDA Targets ₹8,200 Crore Revenue in New MoU with MNRE
The 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), setting its operational goals for the financial year 2025-26.
Strategic Goals Set for the Coming Fiscal Year
The MoU was formally signed by Shri Santosh Kumar Sarangi, Secretary of MNRE, and Shri Pradip Kumar Das, Chairman and Managing Director of IREDA. The signing took place at Atal Akshay Urja Bhawan in New Delhi, with senior officials from both organisations in attendance.
As part of this agreement, the Government of India has set a revenue target of ₹8,200 crore for IREDA’s operations during FY 2025-26. This follows IREDA’s outstanding performance in the previous financial year, where it exceeded its revenue target. For FY 2024-25, the agency achieved ₹6,743.32 crore in revenue from operations, surpassing the goal of ₹5,957 crore.
Focus on Financial and Operational Efficiency
The MoU outlines several key performance indicators, including Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBITDA. These parameters aim to strengthen IREDA’s operational efficiency while promoting financial stability and sustainable growth in the renewable energy sector.
IREDA has consistently maintained strong performance metrics. It has earned an ‘Excellent’ rating in MoU performance for four consecutive years, starting from FY 2020-21. For FY 2023-24, IREDA was recognised as the top performer among Non-Banking Financial Companies (NBFCs) and in the power sector. It also ranked among the top four Central Public Sector Enterprises (CPSEs) across all sectors, according to a list released by the Department of Public Enterprises.
Strong Commitment to Renewable Energy Growth
Expressing confidence in the company’s trajectory, Shri Pradip Kumar Das stated, “With the hope for continuing excellent performance for this year also, we are committed to sustaining our track record of excellence.”
This MoU signals IREDA’s continued dedication to supporting India’s renewable energy ambitions through sound financial performance and operational integrity.