+
 IREDA targets Rs 2,749 cr revenue in 2021-22
POWER & RENEWABLE ENERGY

IREDA targets Rs 2,749 cr revenue in 2021-22

Indian Renewable Energy Development Agency Ltd (IREDA) is targeting a revenue of Rs 2,749 crore from operations in the ongoing financial year.

IREDA, Chairman & Managing Director (CMD), Pradip Kumar Das, has signed a Memorandum of Understanding (MoU) with Indu Shekhar Chaturvedi, Secretary, Ministry of New and Renewable Energy (MNRE) on Tuesday.

The government has set a target of Rs 2,749 crore income from operation under the 'Excellent' rating, including different performance-related significant parameters like return on net worth, asset turnover ratio, asset turnover ratio, non-performing asset (NPA) to total loans, earnings per share, and many more.

In the financial year (FY) 2020-21, IREDA was rated Excellent with a 96.93 score.

Currently, the company has financed over 2,900 renewable energy projects loan accounts with cumulative loan sanctions and disbursement to the tune of Rs 1,08,606 crore and Rs 69,951 crore each.

It also helped the green power capacity expansion of 19,463 MW in the country.

With an extra equity infusion of Rs 1,500 crore by the government, in the upcoming years, IREDA would have exponential growth in the renewable energy sector.

The IREDA would be capable of expanding loan facilities of around Rs 12,000 crores and contributing to even more government targets for renewable energy.

After the equity infusion of Rs 1,500 crore, IREDA also plans to introduce an Initial Public Offering (IPO) to complete its further capital requirement.

Image Source

Also read: IREDA inks MoU with TANGEDCO for renewable energy projects

Indian Renewable Energy Development Agency Ltd (IREDA) is targeting a revenue of Rs 2,749 crore from operations in the ongoing financial year. IREDA, Chairman & Managing Director (CMD), Pradip Kumar Das, has signed a Memorandum of Understanding (MoU) with Indu Shekhar Chaturvedi, Secretary, Ministry of New and Renewable Energy (MNRE) on Tuesday. The government has set a target of Rs 2,749 crore income from operation under the 'Excellent' rating, including different performance-related significant parameters like return on net worth, asset turnover ratio, asset turnover ratio, non-performing asset (NPA) to total loans, earnings per share, and many more. In the financial year (FY) 2020-21, IREDA was rated Excellent with a 96.93 score. Currently, the company has financed over 2,900 renewable energy projects loan accounts with cumulative loan sanctions and disbursement to the tune of Rs 1,08,606 crore and Rs 69,951 crore each. It also helped the green power capacity expansion of 19,463 MW in the country. With an extra equity infusion of Rs 1,500 crore by the government, in the upcoming years, IREDA would have exponential growth in the renewable energy sector. The IREDA would be capable of expanding loan facilities of around Rs 12,000 crores and contributing to even more government targets for renewable energy. After the equity infusion of Rs 1,500 crore, IREDA also plans to introduce an Initial Public Offering (IPO) to complete its further capital requirement. Image Source Also read: IREDA inks MoU with TANGEDCO for renewable energy projects

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?