New Delhi: Indian Renewable Energy Development Agency Ltd. (IREDA) has once again showcased strong operational and financial performance by securing an ‘Excellent’ rating in the Memorandum of Understanding (MoU) signed with the Ministry of New & Renewable Energy (MNRE) for the financial year 2024–25. The company achieved an impressive score of 96.42 out of 100, reaffirming its leadership in India’s renewable energy financing ecosystem.
Consistent Excellence in Performance
This achievement marks the fifth consecutive year that IREDA has received the highest ‘Excellent’ rating under the MoU framework. The consistent performance reflects the organisation’s focus on operational efficiency, financial discipline, risk management, and strong corporate governance, even as its role and responsibilities continue to expand in a rapidly evolving renewable energy sector.
Remarkable Turnaround Journey
IREDA’s current performance underscores a remarkable institutional transformation. The agency had received a ‘Fair’ rating with a score of 45.83 in the MoU evaluation for FY 2019–20. Following this, IREDA undertook comprehensive reforms aimed at strengthening internal systems, improving processes, enhancing transparency, and building a performance-driven organisational culture. These efforts have enabled the organisation to deliver sustained improvement and establish itself as India’s largest pure-play green NBFC.
Leadership’s Remarks
Commenting on the achievement, Pradip Kumar Das, Chairman & Managing Director, IREDA, said that securing the ‘Excellent’ rating for the fifth consecutive year is a matter of pride for the organisation. He noted that the recognition reflects the dedication of IREDA’s employees, the trust of stakeholders, and the continued guidance and support of the Government of India.
He reaffirmed IREDA’s commitment to strengthening India’s clean energy ecosystem and accelerating the country’s green energy transition. The CMD also expressed gratitude to Union Minister Pralhad Joshi, Minister of State Shripad Yesso Naik, MNRE Secretary Santosh Kumar Sarangi, and the Board of Directors for their continued encouragement and support.
About IREDA
Indian Renewable Energy Development Agency Ltd. (IREDA) is a government-owned public sector undertaking (PSU) and a non-banking financial company under the Ministry of New and Renewable Energy. It provides financial assistance for renewable energy and energy efficiency projects across the country, playing a key role in supporting India’s transition towards a cleaner and more sustainable energy ecosystem.
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