Indian Renewable Energy Development Agency has secured an Excellent rating for the fifth consecutive year in its Memorandum of Understanding performance with the Ministry of New and Renewable Energy, reinforcing its role as a key driver of India’s clean energy financing ecosystem.
Union Minister for New and Renewable Energy Pralhad Joshi congratulated IREDA on the achievement, stating that the sustained excellence reflects the organisation’s institutional strength, effective reforms and the commitment of its workforce. He expressed confidence that IREDA will continue to build momentum, supporting India’s clean energy transition and strengthening the country’s journey towards a greener and more self reliant future.
IREDA achieved a score of 96.42 out of 100 in the MoU evaluation for the financial year 2024–25, underscoring its consistent focus on operational efficiency, financial discipline and strong corporate governance. The performance highlights the organisation’s ability to deliver results amid an expanding mandate and a rapidly evolving renewable energy landscape.
The achievement marks a significant transformation for IREDA, which had received a Fair rating with a score of 45.83 in the MoU evaluation for 2019–20. Following that assessment, the organisation undertook comprehensive institutional reforms to strengthen internal systems, processes and organisational culture. These efforts enabled IREDA to improve performance steadily and secure consecutive Excellent ratings, firmly establishing it as India’s largest pure play green non banking financial company.
Chairman and Managing Director Pradip Kumar Das said the fifth consecutive Excellent rating is a source of pride for the organisation and reflects the dedication of its employees, the confidence of stakeholders and the consistent guidance and support of the Government of India. He reiterated IREDA’s commitment to strengthening the clean energy ecosystem and accelerating India’s green energy transition.
The sustained MoU performance highlights IREDA’s growing role in financing renewable energy projects and supporting national objectives related to energy security, climate action and sustainable economic growth.
