Home Energy IREDA Signs MNRE Pact

IREDA Signs MNRE Pact

 Indian Renewable Energy Development Agency Limited (IREDA) signed a Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), Government of India setting key targets for the year 2020-21.

The MOU was signed by Indu Shekhar Chaturvedi, Secretary, MNRE and Pradip Kumar Das, Chairman & Managing Director, IREDA today in the presence of senior officials from MNRE and IREDA.Government of India has set a revenue target of Rs. 2,406 crore under ‘Excellent’ rating along with various performance-related parameters such as Operating Profit as percentage of Revenue from Operation, PAT as a percentage of Average Net worth, Loan disbursement, Overdue loan etc. 

IREDA as on 2 November 2020, has financed more than 2700 renewable energy projects in India with cumulative loan disbursements to the tune of Rs. 57,000 crore.

And IREDA has supported green power capacity addition of 17,259 MW in the country.

Though several commercial banks and financial institutions have forayed into clean energy financing, IREDA has been successfully maintaining its substantial share of the renewable market, thansk to hyperactive CMD Mr.Das.

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