New Delhi: The Indian Renewable Energy Development Agency (IREDA) on Monday October 5 signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), setting strategic targets for the financial year 2026-27.

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The MoU was signed at Akshay Urja Bhawan, New Delhi, by MNRE Secretary Santosh Kumar Sarangi and IREDA Chairman and Managing Director Dr Bijay Kumar Mohanty. Joint Secretary, MNRE, Anupam Kumar, along with senior officials from both organisations, was also present

The agreement lays down performance targets for IREDA for the current financial year and is aimed at aligning the renewable-energy financing agency's operations with the government's broader clean-energy objectives.

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Following the signing, Mohanty thanked MNRE for its continued guidance and support, saying that the IREDA team would work towards achieving the targets and contribute to the goal of Viksit Bharat.

The annual performance MoU assumes significance as IREDA remains a key public-sector financing institution supporting the expansion of India's renewable-energy ecosystem through financing and other financial services for clean-energy projects.

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