IREDA gets ‘Excellent’ MoU rating for 5th year; MNRE Minister hails clean energy financing momentum

Union Minister for New and Renewable Energy Pralhad Joshi has congratulated the Indian Renewable Energy Development Agency (IREDA) for securing an ‘Excellent’ MoU performance rating for the fifth consecutive year. The minister said the achievement reflects strong institutional reforms and the dedication of the IREDA team, adding that the agency will continue to play a key role in strengthening India’s clean energy financing ecosystem and accelerating the country’s renewable energy transition.

For FY 2024–25, IREDA achieved a score of 96.42 out of 100 in its Memorandum of Understanding (MoU) with the Ministry of New & Renewable Energy (MNRE). This sustained performance highlights the agency’s operational efficiency, financial discipline, and governance standards.

Notably, IREDA had received a ‘Fair’ rating with a score of 45.83 in FY 2019–20. Following this, the organisation implemented extensive institutional reforms that improved systems, processes, and culture, enabling it to achieve five consecutive ‘Excellent’ ratings and emerge as India’s largest pure-play green NBFC.

CMD Pradip Kumar Das said the rating is a matter of great pride and reflects the commitment of employees, stakeholders, and government support. He reaffirmed IREDA’s focus on strengthening India’s clean energy ecosystem and driving the nation’s green transition.