**Executive Summary**
The Union Minister for New and Renewable Energy, Shri Pralhad Joshi, congratulated the Indian Renewable Energy Development Agency (IREDA) for achieving an "Excellent" rating in its Memorandum of Understanding (MoU) performance for the fifth consecutive year, specifically for the financial year 2024-25, with a score of 96.42 out of 100. This achievement reflects IREDA's operational efficiency, financial discipline, and robust corporate governance. The announcement was made on January 8, 2026.
**Key Points / Main Content**
* **IREDA's Achievement:**
* IREDA secured an "Excellent" rating for the fifth consecutive year in MoU performance with the Ministry of New & Renewable Energy (MNRE).
* The "Excellent" rating is for the financial year 2024-25.
* IREDA achieved a score of 96.42 out of 100 in the MoU evaluation.
* **Significance:**
* The consistent "Excellent" ratings demonstrate IREDA's commitment to operational efficiency, financial discipline, and corporate governance.
* The achievement highlights IREDA's ability to maintain momentum in the renewable energy sector.
* After receiving only ‘Fair' rating with a score of 45.83 in the MoU evaluation for FY 2019–20, IREDA undertook comprehensive institutional reforms to strengthen its systems, processes, and culture.
* IREDA is now recognised as the country's largest pure-play green NBFC.
* **Minister's Remarks:**
* Union Minister Shri Pralhad Joshi expressed confidence in IREDA's continued efforts to strengthen India's clean energy financing ecosystem.
* **IREDA CMD's Comments:**
* Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, acknowledged the achievement as a testament to the dedication of IREDA's employees, stakeholders' confidence, and the Government of India's support.
* CMD, IREDA, also expressed his sincere gratitude to Shri Pralhad Joshi, Hon'ble Union Minister of New & Renewable Energy.
**Impact Analysis**
**IREDA Team**
* **Impact:** Recognition and validation of their dedication and efforts towards achieving excellence in MoU performance.
* **Action Required:** Continue their commitment to strengthening India's clean energy ecosystem.
**Ministry of New and Renewable Energy (MNRE)**
* **Impact:** Reinforcement of the effectiveness of the MoU framework and the success of IREDA in meeting its objectives.
* **Action Required:** Continue providing guidance and support to IREDA.
**Renewable Energy Sector Stakeholders**
* **Impact:** Increased confidence in IREDA's ability to finance and support clean energy projects.
* **Action Required:** Leverage IREDA's expertise and resources to further accelerate the development of renewable energy projects.
**Government of India**
* **Impact:** Advancement of national clean energy goals and a greener, more self-reliant future.
* **Action Required:** Continue supporting and strengthening India's clean energy ecosystem.
Key Entities Referenced
Indian Renewable Energy Development Agency (IREDA): A financial institution focused on promoting and financing renewable energy projects in India.
Ministry of New and Renewable Energy (MNRE): The government ministry responsible for all matters relating to new and renewable energy.
Memorandum of Understanding (MoU): Agreement between IREDA and MNRE outlining performance targets and expectations.
Ministry of New and Renewable Energy
IREDA’s ‘Excellent’ MoU Performance for Fifth
Straight Year Strengthens India’s Clean Energy
Financing: Union Minister Shri Pralhad Joshi
प्रव तथ: 08 JAN 2026 7:25PM by PIB Delhi
Union Minister for New and Renewable Energy Shri Pralhad Joshi congratulated Indian Renewable
Energy Development Agency (IREDA) on securing an ‘Excellent’ rating for the fifth consecutive year in
MoU performance. The Minister said that this sustained excellence reflects the dedication of the IREDA
team and the strength of its institutional reforms. He expressed confidence that IREDA will continue this
momentum, strengthening India’s clean energy financing ecosystem and accelerating the nation’s clean
energy transition towards a greener, more self-reliant future.
Congratulations to @IREDALtd on securing an ‘Excellent’ rating for the fifth
consecutive year in MoU performance. This sustained excellence reflects the
dedication of the IREDA team and the strength of its institutional reforms. I am
confident that @IREDALtd will keep this… https://t.co/z8VOwBEybC
— Pralhad Joshi (@JoshiPralhad) January 8, 2026
IREDA has once again demonstrated its consistent performance excellence by securing an ‘Excellent’
rating in the Memorandum of Understanding (MoU) signed with the Ministry of New & Renewable
Energy (MNRE) for the financial year 2024–25, achieving a commendable score of 96.42 out of 100.
This marks the fifth consecutive year that IREDA has received the prestigious ‘Excellent’ rating,
underlining the organisation’s sustained focus on operational efficiency, financial discipline, and robust
corporate governance. The continued high performance reflects the organisation’s ability to maintain
momentum amid an expanding mandate and evolving renewable energy landscape.
After receiving only ‘Fair’ rating with a score of 45.83 in the MoU evaluation for FY 2019–20, IREDA
undertook comprehensive institutional reforms to strengthen its systems, processes, and culture. This
transformative journey enabled the organisation to elevate its standards, achieving consecutive ‘Excellent’
ratings thereafter and firmly establishing IREDA as the country’s largest pure-play green NBFC.
Commenting on the achievement, Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, said,
“Receiving the ‘Excellent’ rating for the fifth consecutive year is a matter of great pride for IREDA. This
recognition is a testament to the dedication of our employees, confidence of our stakeholders, and the
consistent guidance and support of the Government of India. We remain committed to strengthening
India’s clean energy ecosystem and accelerating the nation’s green energy transition.”
CMD, IREDA, also expressed his sincere gratitude to Shri Pralhad Joshi, Hon’ble Union Minister of New
& Renewable Energy, Consumer Affairs and Food & Public Distribution; Shri Shripad Yesso Naik,
Hon’ble Minister of State for Power and New & Renewable Energy; Shri Santosh Kumar Sarangi,Secretary, MNRE; and the Board of Directors for their continued encouragement, support, and valuable
guidance.
****
Navin Sreejith
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