The Indian Renewable Energy Development Agency (IREDA) has once again demonstrated its strong institutional performance by securing an
nation’s transition to a greener and more self-reliant future.
For FY 2024–25, IREDA achieved an impressive score of 96.42 out of 100 in the MoU evaluation conducted by MNRE. The rating reflects the organisation’s strong focus on operational efficiency, sound financial management, and adherence to high standards of corporate governance, even as its role and responsibilities continue to expand.
Over the years, IREDA has evolved into India’s largest pure-play green non-banking financial company (NBFC), supporting renewable energy
projects across solar, wind, hydro, bioenergy, and emerging clean technologies. Its consistent performance has reinforced stakeholder
confidence and strengthened its position as a key enabler of India’s renewable energy ambitions.
Journey of Institutional Transformation
IREDA’s current success is the result of a sustained reform journey. After receiving a ‘Fair’ rating with a score of 45.83 in the MoU
evaluation for FY 2019–20, the organisation undertook comprehensive institutional reforms. These reforms focused on strengthening internal systems, improving processes, enhancing transparency, and fostering a performance-driven work culture.
The transformation enabled IREDA to significantly elevate its performance standards, leading to consecutive ‘Excellent’ ratings in the
subsequent years. The progress highlights how targeted reforms and strong leadership can deliver measurable improvements in public sector financial institutions.
Leadership and Government Support
Commenting on the achievement, Shri Pradip Kumar Das, Chairman and Managing Director of IREDA, described the fifth consecutive
‘Excellent’ rating as a moment of pride for the organisation. He said the recognition reflects the dedication of IREDA’s employees, the trust
of stakeholders, and the consistent guidance and support provided by the Government of India.
The CMD 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 encouragement and strategic guidance, which have been instrumental in sustaining IREDA’s growth trajectory.
Boost to India’s Green Energy Transition
IREDA’s continued excellence comes at a crucial time as India accelerates its clean energy transition to meet climate commitments and energy security goals. By providing timely and affordable financing to renewable energy projects, IREDA plays a central role in expanding clean energy capacity and supporting sustainable economic growth.
With its strong institutional framework and consistent performance, IREDA is well-positioned to support India’s long-term vision of alow-carbon economy, reinforcing the country’s leadership in the global renewable energy landscape.