Govt Sets Rs 2,406 Cr Revenue Target for IREDA in FY21

The Government of India has set a revenue target of Rs 2,406 crore for Indian Renewable Energy Development Agency Ltd (IREDA) under ‘Excellent’ rating along with various performance-related parameters such as operating profit as percentage of revenue from operation, profit after tax (PAT) as a percentage of average net worth, loan disbursement, overdue loan etc.

In this regard, a Memorandum of Understanding (MoU) was signed between IREDA and the Ministry of New and Renewable Energy (MNRE), Government of India setting key targets for the year 2020-21.

Further, the MoU was signed by Indu Shekhar Chaturvedi, Secretary, MNRE and Pradip Kumar Das, Chairman & Managing Director, IREDA in the presence of senior officials from both MNRE and IREDA.

As on November 2, 2020, IREDA has financed more than 2,700 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.