The Indian Renewable Energy Development Agency (IREDA) has once again delivered a strong performance, securing an ‘Excellent’ rating in its Memorandum of Understanding (MoU) with the Ministry of New & Renewable Energy (MNRE) for FY 2024–25, with an impressive score of 96.42 out of 100. This marks the fifth consecutive year of top MoU performance for the green financing major.
Minister Commends Sustained Excellence
Union Minister for New and Renewable Energy Shri Pralhad Joshi congratulated IREDA on the achievement, stating that the consistent ‘Excellent’ ratings reflect the organisation’s dedicated workforce and the success of its institutional reforms. He said the performance reinforces IREDA’s role in strengthening India’s clean energy financing ecosystem and accelerating the country’s transition towards a greener and more self-reliant future.
Strong Governance and Operational Focus
IREDA’s continued high MoU score highlights its emphasis on operational efficiency, financial discipline, and robust corporate governance, even as its mandate expands in a rapidly evolving renewable energy landscape.
After receiving a ‘Fair’ MoU rating of 45.83 in FY 2019–20, IREDA undertook comprehensive reforms to strengthen its systems, processes, and organisational culture. This transformation enabled the organisation to achieve consecutive ‘Excellent’ ratings in subsequent years, firmly positioning it as India’s largest pure-play green NBFC.
CMD Credits Team and Government Support
Commenting on the milestone, Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, said, “Receiving the ‘Excellent’ rating for the fifth consecutive year is a matter of great pride for IREDA. This recognition is a testament to the dedication of our employees, confidence of our stakeholders, and the consistent guidance and support of the Government of India. We remain committed to strengthening India’s clean energy ecosystem and accelerating the nation’s green energy transition.”
Acknowledgement of Leadership Support
The CMD also expressed his sincere gratitude to Shri Pralhad Joshi; Shri Shripad Yesso Naik, Minister of State for Power and New & Renewable Energy; Shri Santosh Kumar Sarangi, Secretary, MNRE; and the Board of Directors for their continued encouragement, support, and valuable guidance.
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