New Delhi, Aug 25 (UNI) Indian Renewable Energy Development Agency Limited (IREDA) today signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) outlining certain targets for FY 2025-26.
The MoU was signed by Santosh Kumar Sarangi, secretary, MNRE, and Pradip Kumar Das, CMD, IREDA. Senior officials of both MNRE and IREDA were present.
The MoU includes certain key performance parameters for measuring performance such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, EBITDA, and others.
“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 the four consecutive years since FY2020-21. For FY 2023-24 MoU Rating, IREDA emerged as the top performer in 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,” says Pradip Kumar Das, CMD of IREDA.
As per the official statement on the MoU, “ The Government of India has set a Revenue from Operations target of Rs 8,200 cr for FY 2025-26. IREDA has exceeded its Revenue from Operations target in FY2024-25, achieving Rs 6,743.32 cr against the target of Rs 5,957 cr. ”
