IREDA targets revenue of Rs 43.5 billion during 2023-24

Indian Renewable Energy Development Agency (IREDA) has signed a performance-based memorandum of understanding (MoU) with the Ministry of New and Renewable Energy, which outlines strategic targets that IREDA aims to achieve during 2023-24 and 2024-25.

As per the MoU, the Government of India has set a revenue from operations target for IREDA, of Rs 43.5 billion for 2023-24 and Rs 52.20 billion for 2024-25. The government has also specified other key performance parameters in the MoU, including return on net worth, return on capital employed, non performing asset to total loans ratio, asset turnover ratio, and earnings per share. The company, as on August 21, 2023, has financed 3,137 renewable energy projects with cumulative loan sanction of Rs 1,556.94 billion and loan disbursement of Rs 1,052.45 billion and has supported renewable energy capacity addition of 22,061 MW in the country.