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IREDA signs MoU with MNRE, setting revenue target of Rs. 2406 Cr for 'Excellent' rating

By TIOL News Service

NEW DELHI, NOV 03, 2020: INDIAN Renewable Energy Development Agency Ltd. (IREDA) signed a Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India setting key targets for the year 2020-21. The MOU was signed by Mr Indu Shekhar Chaturvedi, Secretary, MNRE and Mr Pradip Kumar Das, Chairman & Managing Director, IREDA yesterday in the presence of senior officials from MNRE & IREDA.

Government of India has set a revenue target of Rs. 2,406 crore under 'Excellent' rating along with various performance-related parameters such as Operating Profit as percentage of Revenue from Operation, PAT as a percentage of Average Net worth, Loan disbursement, Overdue loan etc.

IREDA as on 2nd November 2020, has financed more than 2700 renewable energy projects in India with cumulative loan disbursements to the tune of Rs. 57,000 crore, and has supported green power capacity addition of 17,259 MW in the country.


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