The Indian Renewable Energy Development Agency (IREDA) has secured an ‘Excellent’ rating in its MoU with the Ministry of New & Renewable Energy (MNRE) for the fifth year in a row. This accomplishment, for the financial year 2024–25, highlights IREDA’s commitment to operational efficiency and financial discipline, scoring an impressive 96.42 out of 100. The organization’s consistent high performance demonstrates its ability to adapt to a changing renewable energy landscape.
Union Minister for New and Renewable Energy Pralhad Joshi praised IREDA for its exceptional performance and sustained excellence. He commended the team’s dedication and the effectiveness of institutional reforms within IREDA. Joshi expressed confidence in IREDA’s ability to further enhance India’s clean energy financing ecosystem and drive the nation towards a greener, more self-reliant future.
After a ‘Fair’ rating in the FY 2019–20 evaluation, IREDA underwent significant institutional reforms to enhance its systems and processes. This transformation led to consecutive ‘Excellent’ ratings, solidifying IREDA’s position as the largest NBFC in India’s renewable energy sector. IREDA Chairman & Managing Director, Pradip Kumar Das, emphasized the recognition as a source of pride, attributing it to the team’s dedication, stakeholder confidence, and government support.
IREDA, a Navratna public sector undertaking, reported a notable 41% increase in net profit to Rs 549 crore for the July-September quarter of the current financial year compared to the previous year. Additionally, revenue from operations rose by 26% to Rs 2,057 crore. Notably, loan sanctions and disbursements also saw significant growth, with sanctions increasing by 145% and disbursements by 81% during the quarter compared to the same period last year.
