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) for the financial year 2025–26. The MoU outlines key operational and financial targets, including a revenue from operations target of ₹8,200 crore.
The agreement was signed at Atal Akshay Urja Bhawan in New Delhi by Shri Santosh Kumar Sarangi, Secretary, MNRE, and Shri Pradip Kumar Das, Chairman and Managing Director of IREDA, in the presence of senior officials from both organizations.
In the previous fiscal year (2024–25), IREDA reported revenue from operations of ₹6,743.32 crore, exceeding its target of ₹5,957 crore. The new MoU also includes performance indicators such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans ratio, Asset Turnover Ratio, and Earnings Before Tax, Depreciation, and Amortization (EBTDA).
CMD Pradip Kumar Das stated that the agency remains committed to maintaining its operational standards. IREDA has received an “Excellent” rating in MoU evaluations for four consecutive years, beginning with FY 2020–21. For FY 2023–24, IREDA was ranked as the top performer among Non-Banking Financial Companies (NBFCs) and power sector entities, and among the top four Central Public Sector Enterprises (CPSEs) overall, based on a list of 84 CPSEs released by the Department of Public Enterprises.
The Indian Renewable Energy Development Agency (IREDA), a public sector undertaking under the Ministry of New and Renewable Energy (MNRE), is a pivotal institution in promoting clean energy initiatives in India. Established in 1987, IREDA specializes in financing renewable energy and energy efficiency projects, contributing significantly to India’s transition toward a sustainable energy future.
Its diverse portfolio spans solar, wind, hydro, biomass, and energy efficiency projects, supporting both large-scale infrastructure and innovative technologies. By providing financial solutions, including loans and grants, IREDA empowers stakeholders to implement green energy projects, fostering economic growth while addressing climate change. Recognized for its role in driving India’s renewable energy ambitions, IREDA remains instrumental in achieving the nation’s target of 500 GW of renewable energy capacity by 2030.
