IREDA signs MoU with MNRE setting annual performance target for 2022-23

Indian Renewable Energy Development Agency Limited (IREDA) has signed a memorandum of understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), setting annual performance target for 2022-23.

India has set a target Rs 33.61 billion for revenue from operation, up by approximately 18 per cent from the previous year’s achievement. The Government of India has also set various performance-related key parameters such as return on net worth, return on capital employed, non-performing assets to total loans, asset turnover ratio and earning per share, etc. IREDA has demonstrated exceptional performance by securing 96.54 marks for the MoU of 2021-22. The company as on date, has financed more than 3,068 renewable energy projects loan accounts with cumulative loan sanction and disbursement to the tune of Rs 1,416.22 billion and Rs 900.37 billion respectively and has supported renewable energy capacity addition of 19,502 MW in the country.