IREDA secures ‘Excellent’ MoU rating for fifth consecutive year

New Delhi: Indian Renewable Energy Development Agency Ltd. (IREDA) has once again demonstrated sustained operational and financial excellence 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, with an impressive score of 96.42 out of 100.

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This marks the fifth consecutive year that IREDA has achieved the prestigious ‘Excellent’ rating, reflecting its continued focus on operational efficiency, financial discipline, and strong corporate governance. The consistent performance highlights the organisation’s ability to maintain momentum amid an expanding mandate and an evolving renewable energy landscape.

IREDA’s performance trajectory reflects a significant turnaround. After receiving a ‘Fair’ rating with a score of 45.83 in the MoU evaluation for FY 2019–20, the organisation undertook comprehensive institutional reforms aimed at strengthening internal systems, processes, and organisational culture. These measures have since enabled IREDA to deliver sustained improvements, firmly positioning it as India’s largest pure-play green NBFC.

Commenting on the achievement, IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das 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 confidence of stakeholders, and the consistent 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 the Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution Pralhad Joshi; Minister of State for Power and New & Renewable Energy Shripad Yesso Naik; MNRE Secretary Santosh Kumar Sarangi; and the Board of Directors for their continued encouragement, support, and guidance.

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