**Summary:**
The Indian Renewable Energy Development Agency Limited (IREDA) and the Ministry of New and Renewable Energy (MNRE) signed a performance-based Memorandum of Understanding (MoU) outlining strategic targets for the fiscal year 2025-26. The MoU, signed on August 25, 2025, in New Delhi by Shri Santosh Kumar Sarangi, Secretary, MNRE, and Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, establishes a Revenue from Operations target of ₹8,200 crores for IREDA in FY 2025-26. This follows IREDA's exceeding its FY 2024-25 target, achieving ₹6,743.32 crores against a target of ₹5,957 crores. The MoU also includes key performance indicators such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBITDA. IREDA has consistently achieved an 'Excellent' rating in MoU performance for the past four fiscal years (since FY 2020-21) and was recognized as a top performer in the NBFC and Power sector for FY 2023-24, ranking among the top four CPSEs across all sectors. Contact: Navin Sreejith, PIB Delhi.
Key Entities Referenced
Ministry of New and Renewable Energy: The ministry of the Government of India responsible for all matters relating to new and renewable energy.
IREDA: Indian Renewable Energy Development Agency Limited, a financial institution.
FY 202526: Fiscal Year 2025-2026, the period for which strategic targets are outlined in the Memorandum of Understanding.
Shri Santosh Kumar Sarangi: Secretary, Ministry of New and Renewable Energy.
Shri Pradip Kumar Das: Chairman Managing Director, Indian Renewable Energy Development Agency Limited.
Atal Akshay Urja Bhawan, New Delhi: Location where the Memorandum of Understanding was signed. New Delhi, Delhi
Memorandum of Understanding: A performance-based agreement between the Ministry of New and Renewable Energy and the Indian Renewable Energy Development Agency Limited outlining strategic targets.
Department of Public Enterprises: A department that issued a list of 84 CPSEs.
Ministry of New and Renewable Energy
IREDA signs Performance MoU with MNRE, 8,200
Crore Revenue Target for FY 2025-26
Posted On: 25 AUG 2025 2:40PM by PIB Delhi
Indian Renewable Energy Development Agency Limited (IREDA) today signed a performance-
based Memorandum of Understanding (MoU) with Ministry of New and Renewable Energy (MNRE),
Government of India, outlining strategic targets for the fiscal year 2025-26.
The MoU was signed by Shri Santosh Kumar Sarangi, Secretary, MNRE and Shri Pradip Kumar
Das, Chairman & Managing Director, IREDA at Atal Akshay Urja Bhawan, New Delhi, in the
presence of senior officials from MNRE and IREDA.Under the MoU, the Government of India has set a Revenue from Operations target of 8,200 crores
for FY 2025-26. IREDA had exceeded its Revenue from Operations target in FY 2024-25, achieving
6,743.32 crores against the target of 5,957 crores. The MoU also includes key performance
parameters such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset
Turnover Ratio, and EBTDA, among other targets.
Expressing confidence in the company's growth trajectory, Shri Pradip Kumar Das, CMD, IREDA,
said: “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.
**********
Navin Sreejith
(Release ID: 2160514)