Indian Renewable Energy Development Agency Limited (IREDA) has formalised a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) for the financial year 2026-27. The agreement was signed on 5 October 2026 at the Atal Akshay Urja Bhawan in New Delhi, marking a significant step towards achieving strategic targets in the renewable energy sector.
The MoU was signed by Shri Santosh Kumar Sarangi, Secretary of MNRE, and Dr. Bijay Kumar Mohanty, Chairman and Managing Director of IREDA, in the presence of Shri Anupam Kumar, Joint Secretary of MNRE, and other senior officials from both organisations. This collaboration underscores the commitment of both entities to advance renewable energy initiatives and contribute to the national goal of ‘Viksit Bharat’.
Dr. Mohanty expressed gratitude towards MNRE for their continued guidance and support. He emphasised the importance of the clear goals set for the year, stating that the IREDA team is committed to working diligently to meet these objectives. This MoU is expected to enhance IREDA’s role in financing and promoting renewable energy projects across India, thereby supporting the country’s transition to a sustainable energy future.
The signing of this MoU aligns with India’s broader renewable energy ambitions and reflects the government’s focus on fostering partnerships that drive sustainable development. Analysts view this development as a positive step in reinforcing India’s position in the global renewable energy landscape, with expectations that such initiatives will attract further investments and technological advancements in the sector.
