IREDA Secures ‘Excellent’ MoU Rating for Fifth Straight Year, Scores 96.42 in FY25 Performance Review

Pralhad Joshi says sustained excellence reflects strong reforms; positions IREDA as backbone of India’s clean energy financing push.

 

The Indian Renewable Energy Development Agency (IREDA) has secured an ‘Excellent’ rating for the fifth consecutive year in its Memorandum of Understanding (MoU) performance evaluation with the Ministry of New and Renewable Energy (MNRE) for FY 2024–25, achieving a score of 96.42 out of 100.

Congratulating IREDA on the achievement, Union Minister for New and Renewable Energy Shri Pralhad Joshi said the sustained top-tier performance reflects the organisation’s institutional strength, reform-driven governance, and professional execution.

“The consistency of IREDA’s performance highlights the dedication of its team and the success of its institutional reforms. I am confident that IREDA will continue to strengthen India’s clean energy financing ecosystem and accelerate our transition towards a greener, more self-reliant future,” the Minister said.

Five Years of ‘Excellent’ Ratings Underscore Institutional Transformation

The latest rating reinforces IREDA’s position as India’s largest pure-play green Non-Banking Financial Company (NBFC), with a strong track record in operational efficiency, financial discipline, and corporate governance.

IREDA’s performance trajectory marks a significant turnaround. After receiving only a ‘Fair’ rating with a score of 45.83 in FY 2019–20, the organisation undertook comprehensive institutional reforms, strengthening internal systems, risk management, processes, and organisational culture.

These reforms have enabled IREDA to achieve five consecutive ‘Excellent’ ratings, even as its mandate expanded in line with India’s rapidly growing renewable energy sector.

Leadership Credits Team, Stakeholders and Government Support

Commenting on the milestone, Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, said the recognition reflects collective effort and long-term vision.

“Receiving the ‘Excellent’ rating for the fifth consecutive year is a matter of great pride for IREDA. This achievement is a testament to the dedication of our employees, the trust of our stakeholders, and the consistent guidance and support of the Government of India. We remain firmly committed to strengthening India’s clean energy ecosystem and accelerating the nation’s green energy transition,” he said.

The CMD also expressed gratitude to Union Minister Shri Pralhad Joshi, Minister of State Shri Shripad Yesso Naik, MNRE Secretary Shri Santosh Kumar Sarangi, and the Board of Directors for their continued encouragement and strategic guidance.

Why This Matters for India’s Energy Transition

With India scaling up renewable energy capacity to meet ambitious climate and energy security goals, IREDA plays a critical role in mobilising capital for solar, wind, hydro, green hydrogen, storage, and emerging clean technologies.

Officials said the consistent ‘Excellent’ MoU performance strengthens investor confidence, enhances IREDA’s ability to raise low-cost capital, and reinforces its role as a financial anchor for India’s clean energy transition.

Looking Ahead

IREDA is expected to further expand its financing footprint while maintaining high governance standards, supporting India’s push towards energy independence, climate resilience, and sustainable growth.