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Renewable Energy Development eyes Rs 2,406 crore revenue in FY21

State-owned Indian Renewable Energy Development Agency Ltd (IREDA) is eyeing Rs 2,406 crore revenue in the current financial year.

renewable energy

Press Trust of India  |  New Delhi 

renewable, energy, power, solar

State-owned Indian Development Agency Ltd (IREDA) is eyeing Rs 2,406 crore revenue in the current financial year.

IREDA has signed a memorandum of understanding (MoU) with the Ministry of New and (MNRE) for setting key targets for the year 2020-21, the ministry said in a statement.

The MoU was signed by MNRE Secretary Indu Shekhar Chaturvedi and IREDA CMD Pradip Kumar Das on Monday, the statement said.

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 percentage of revenue from operations, PAT (profit after tax) as a percentage of average net worth, loan disbursement, overdue loan etc, as per the MoU.

IREDA as on November 2, 2020, has financed more than 2,700 projects in India with cumulative loan disbursements of Rs 57,000 crore, and has supported the green power capacity addition of 17,259 MW in the country.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, November 02 2020. 21:42 IST