New Delhi, Jan 09: IREDA (Indian Renewable Energy Development Agency) has been awarded an ‘Excellent’ rating for the fifth consecutive year in its MoU with the Ministry of New & Renewable Energy (MNRE) for the financial year 2024-25, achieving a score of 96.42 out of 100.
This recognition highlights IREDA’s commitment to operational efficiency and financial discipline amid a fluctuating renewable energy environment. Union Minister Pralhad Joshi praised IREDA for its sustained excellence, attributing it to the dedication of its team and recent institutional reforms undertaken after a ‘Fair’ rating in FY 2019-20.
These reforms have significantly improved the organization’s standards, cementing its status as the largest NBFC in the renewable energy sector. IREDA’s performance also reflects robust financial outcomes, reporting a 41% increase in net profit to Rs 549 crore and a 26% rise in operational revenue to Rs 2,057 crore for the July-September quarter.
Additionally, loan sanctions surged by 145% to Rs 21,408 crore, while loan disbursements rose by 81% to Rs 8,062 crore, showcasing the organization’s growth and commitment to advancing India’s clean energy financing ecosystem.
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