IREDA Secures ‘Excellent’ MoU Rating for Fifth Consecutive Year, Strengthens India’s Clean Energy Financing

Indian Renewable Energy Development Agency (IREDA) has once again demonstrated sustained institutional excellence by securing an ‘Excellent’ rating in the Memorandum of Understanding (MoU) signed with the Ministry of New & Renewable Energy (MNRE) for FY 2024–25, achieving an impressive score of 96.42 out of 100.

This marks the fifth consecutive year that IREDA has earned the top MoU performance rating, reinforcing its position as India’s largest pure-play green NBFC and a key pillar of the country’s clean energy financing ecosystem.

Congratulating the organisation, Union Minister for New and Renewable Energy Pralhad Joshi said that IREDA’s sustained excellence reflects the dedication of its workforce and the strength of institutional reforms undertaken over the years. He expressed confidence that the organisation will continue to accelerate India’s clean energy transition and contribute to a greener, more self-reliant future.

IREDA’s journey to consistent excellence is particularly notable. After receiving a ‘Fair’ rating (45.83) in the MoU evaluation for FY 2019–20, the organisation undertook comprehensive reforms to strengthen internal systems, governance frameworks, and operational efficiency. These reforms have since translated into five straight years of top-tier performance.

Commenting on the achievement, Pradip Kumar Das, Chairman & Managing Director, IREDA, said the recognition reflects the collective efforts of employees, stakeholders, and continued government support. He reiterated IREDA’s commitment to deepening India’s clean energy financing capacity and supporting the nation’s green energy goals.

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