IREDA looks to raise Rs 2,406 crore revenue in FY 2020-21

New Delhi: Indian Renewable Energy Development Agency Limited (IREDA), a Miniratna PSU under the Ministry of New and Renewable Energy (MNRE), has signed a memorandum of understanding (MoU) with MNRE, setting key targets for the year 2020-21. The MoU has been signed by the MNRE's Secretary Indu Shekhar Chaturvedi and IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das on Monday in the presence of senior officials from MNRE & IREDA.

According to IREDA, the government has set a revenue target of Rs 2,406 crore under 'Excellent' rating along with various performance-related parameters such as operating profit as the percentage of revenue from operations, profit after tax (PAT) as a percentage of average net worth, loan disbursement, overdue loan etc.

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As of 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.

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