The Indian Renewable Energy Development Agency Limited (IREDA) has received an ‘Excellent’ rating from the Department of Public Enterprises (DPE) for its outstanding performance in FY 2023–24, marking its fourth consecutive year in the top performance tier. This recognition places IREDA among the top four Central Public Sector Enterprises (CPSEs) across India and the highest-ranked CPSE in both the power and Non-Banking Financial Company (NBFC) sectors.
The performance ratings, recently released by the DPE, are based on annual Memorandums of Understanding (MoUs) signed between CPSEs and the Government of India. Out of 84 CPSEs evaluated, IREDA scored 98 and above, securing its place in the elite group recognized for exemplary governance, financial performance, and strategic contribution to national goals.
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IREDA’s Chairman and Managing Director (CMD) Pradip Kumar Das welcomed the recognition, stating:
“We are immensely happy to be recognized as the best performing CPSE in the NBFC and power sector, and to be among the top four CPSEs in the country. This achievement reflects our team’s collective dedication and strategic vision to accelerate India’s renewable energy growth.”
He emphasized that the accolade reinforces IREDA’s position as a leader in green financing, dedicated to driving innovative and sustainable energy solutions that align with the government’s vision for a clean energy future.
CMD Das also extended his appreciation to Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution Pralhad Joshi, Minister of State for Power and New & Renewable Energy Shripad Naik, MNRE Secretary Santosh Kumar Sarangi, and other board members and officials for their continuous guidance and support.
As India pursues its ambitious renewable energy targets, IREDA’s performance stands as a model for effective governance and impactful financing in the clean energy sector.
About IREDA
IREDA, a government-owned non-banking financial institution under the Ministry of New and Renewable Energy, is dedicated to promoting and financing renewable energy and energy efficiency projects across India. Formed in 1987, IREDA is a Navratna organisation owned by the Government of India and administratively controlled by the Ministry of New and Renewable Energy (MNRE).
