Latest News | IREDA Eyes Rs 2.4k Cr Revue in FY21

New Delhi, Nov 2 (PTI) State-owned Indian Renewable Energy 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 Renewable Energy (MNRE) for setting key targets for the year 2020-21, the ministry said in a statement.

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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.

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IREDA as on November 2, 2020, has financed more than 2,700 renewable energy 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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)