IREDA and MNRE sign MoU for 2016-17

The Indian Renewable Energy Development Agency (IREDA) has signed an MoU with the Ministry of New and Renewable Energy (MNRE) for the year 2016-17. Under the MoU, for achieving “excellent” rating for the year 2016-17, among other targets, loan sanctions have been set at Rs 100 billion, with an increase of over 62 per cent over the amount targeted in the previous financial year. Meanwhile, the target for revenue from operations has been set at Rs 15.25 billion and profit before tax at Rs 5.1 billion.

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