IREDA Achieves ‘Excellent’ MoU Rating for Fifth Consecutive Year

Indian Renewable Energy Development Agency Ltd. (IREDA) has once again proved its strong performance by securing an ‘Excellent’ rating in the Memorandum of Understanding (MoU) with the Ministry of New & Renewable Energy (MNRE) for the financial year 2024–25. The organisation scored an impressive 96.42 out of 100.

What is this MoU Rating?

Every year, government enterprises are evaluated on their work, efficiency, and financial discipline. This evaluation is done through an MoU with the concerned ministry. An ‘Excellent’ rating shows top-level performance and strong management.

A Remarkable Five-Year Streak

This is the fifth consecutive year that IREDA has received the ‘Excellent’ rating. It highlights the organisation’s consistent focus on:

• Operational efficiency
• Financial discipline
• Good corporate governance

IREDA has shown that it can perform well even as India’s renewable energy sector grows rapidly.

From Fair to Excellent

In FY 2019–20, IREDA had received only a ‘Fair’ rating with a score of 45.83. After that, the organisation carried out major reforms to improve its systems, processes, and work culture. These efforts helped IREDA achieve ‘Excellent’ ratings year after year, making it India’s largest pure-play green NBFC today.

CMD’s Message

Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, said that this achievement is a matter of great pride. He credited the dedication of employees, trust of stakeholders, and strong support from the Government of India. He also reaffirmed IREDA’s commitment to strengthening India’s clean energy ecosystem.

Gratitude to Leadership

The CMD thanked 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 continuous guidance and support.