IREDA Achieves ‘Excellent’ Rating in MoU Performance for FY 2024-25
Filing Summary
Indian Renewable Energy Development Agency Ltd (IREDA) has secured an ‘Excellent’ rating for the fifth consecutive year in its Memorandum of Understanding (MoU) with the Ministry of New & Renewable Energy for the financial year 2024-25. The agency achieved a score of 96 out of 100. This rating reflects IREDA’s operational efficiency and financial discipline. The agency had previously received a ‘Fair’ rating in FY 2019-20 but has since improved its performance through institutional reforms.
Indian Renewable Energy Development Agency Ltd (IREDA) has received an ‘Excellent’ rating in the Memorandum of Understanding (MoU) with the Ministry of New & Renewable Energy (MNRE) for the financial year 2024-25. The agency achieved a score of 96 out of 100. This marks the fifth consecutive year that IREDA has attained this rating.
In the MoU evaluation for FY 2019-20, IREDA received a ‘Fair’ rating with a score of 45. Following this, the agency implemented comprehensive institutional reforms to enhance its systems and processes. These efforts have resulted in consistent ‘Excellent’ ratings in subsequent years.
The agency’s performance reflects its operational efficiency and financial discipline. IREDA has maintained its momentum amid an expanding mandate and evolving renewable energy landscape. The agency’s focus on robust corporate governance has been a key factor in achieving these ratings.
IREDA is recognized as the country’s largest pure-play green Non-Banking Financial Company (NBFC). The agency’s consistent performance underscores its commitment to supporting India’s clean energy ecosystem and accelerating the nation’s green energy transition.
Indian Renewable Energy Development Agency Ltd is a government-owned financial institution that promotes, develops, and extends financial assistance for renewable energy and energy efficiency projects in India. The agency plays a crucial role in supporting the government’s initiatives to increase the share of renewable energy in the country’s energy mix.