Indian Renewable Energy Development Agency Ltd (IREDA) has received an ‘Excellent’ rating in its Memorandum of Understanding (MoU) performance evaluation with the Ministry of New and Renewable Energy (MNRE) for the financial year 2024–25. The organisation scored 96.42 out of 100, marking the fifth consecutive year it has achieved this rating.
The sustained performance reflects IREDA’s focus on operational efficiency, financial management, and governance practices amid the expansion of India’s renewable energy sector. The achievement follows a period of institutional strengthening undertaken after the organisation received a ‘Fair’ rating in FY 2019–20. Subsequent reforms in systems and processes enabled IREDA to consistently improve its MoU performance and establish itself as a leading green-focused non-banking financial company.
Commenting on the rating, Pradip Kumar Das, Chairman and Managing Director of IREDA, said the recognition reflects the efforts of employees, the confidence of stakeholders, and the continued guidance of the Government of India. He reiterated IREDA’s commitment to supporting India’s clean energy growth and accelerating the transition to renewable energy. The CMD also expressed appreciation to the Ministry of New and Renewable Energy and its leadership, as well as the Board of Directors, for their continued support and direction.
The Indian Renewable Energy Development Agency (IREDA), a public sector undertaking under the Ministry of New and Renewable Energy (MNRE), is a pivotal institution in promoting clean energy initiatives in India. Established in 1987, IREDA specializes in financing renewable energy and energy efficiency projects, contributing significantly to India’s transition toward a sustainable energy future.
Its diverse portfolio spans solar, wind, hydro, biomass, and energy efficiency projects, supporting both large-scale infrastructure and innovative technologies. By providing financial solutions, including loans and grants, IREDA empowers stakeholders to implement green energy projects, fostering economic growth while addressing climate change. Recognized for its role in driving India’s renewable energy ambitions, IREDA remains instrumental in achieving the nation’s target of 500 GW of renewable energy capacity by 2030.
