The latest renewable energy news includes announcements on IREDA, MNRE, Greengo, Qair, among others.
IREDA Signs MoU with MNRE, Sets ₹8,200 Crore Revenue Target for FY 2025-26
Indian Renewable Energy Development Agency (IREDA) has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE), setting strategic targets for FY 2025-26. The MoU, signed by MNRE Secretary Shri Santosh Kumar Sarangi and IREDA CMD Shri Pradip Kumar Das in New Delhi, outlines a Revenue from Operations target of ₹8,200 crores. IREDA surpassed its FY 2024-25 revenue target, achieving ₹6,743.32 crores against the set ₹5,957 crores. The agreement also includes key performance indicators such as Return on Net Worth, Return on Capital Employed, NPA to Total Loans, Asset Turnover Ratio, and EBTDA.
Greengo Secures Approval for 120-MW/480-MWh Battery in Italy
Greengo has received approval to develop a 120-MW/480-MWh battery energy storage system (BESS) in Italy, a project that will strengthen the country’s grid stability and renewable integration. The strategic move supports Italy’s growing need for energy storage as solar and wind capacity expands. The investment highlights Greengo’s focus on sustainable infrastructure and advanced storage solutions that enhance grid flexibility and reliability. Technologically, the project employs large-scale lithium-ion systems, enabling efficient energy shifting and frequency regulation. Customers, including utilities and grid operators, will benefit from improved system efficiency, reduced curtailment, and greater renewable adoption. The initiative demonstrates innovation in large-scale storage while delivering environmental and economic benefits through optimized energy use, enhanced resilience, and support for Italy’s decarbonization strategy.
Qair Takes Wind Power Deals in Romania, Moldova to 135.5 MW
Qair has expanded its renewable energy portfolio in Eastern Europe, securing agreements that raise its wind power capacity in Romania and Moldova to 135.5 MW. This strategic move strengthens Qair’s regional presence and aligns with its long-term goal of accelerating clean energy transition across emerging European markets. The investment underscores a focus on sustainable growth, leveraging advanced wind technologies to deliver reliable and efficient power. Customers, including local utilities and businesses, will benefit from increased access to clean energy and enhanced grid stability. The projects highlight Qair’s innovation in deploying wind assets at scale, supporting energy independence, lowering carbon emissions, and contributing to both nations’ renewable energy and climate targets.
Faheema P