On 7th January, 2025, the Indian Renewable Energy Development Agency Ltd. (IREDA) was recognized as the top-performing Central Public Sector Enterprise (CPSE) in the Power and NBFC sectors by the Department of Public Enterprises (DPE). This accolade, part of the annual performance Memorandum of Understanding (MoU) for FY 2023-24, positions IREDA among the top 4 CPSEs in India, with an impressive score of 98 and above.
IREDA’s Remarkable Achievement
Top Performer in Power and NBFC Sectors
The DPE evaluated 84 CPSEs for FY 2023-24, and IREDA emerged as a standout performer, securing the 'Excellent' rating for the fourth consecutive year. This recognition highlights IREDA’s pivotal role as the largest pure-play green financing NBFC in India, driving the nation’s renewable energy growth. The consolidated list of CPSE ratings, released on 7th January, 2025, underscores IREDA’s consistent excellence and strategic leadership in sustainable financing.
Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, expressed pride in the achievement, stating, “This rating reaffirms IREDA’s leadership in green financing and our commitment to nation-building by supporting innovative and sustainable energy solutions.” He attributed the success to the collective dedication of Team IREDA and the guidance of key stakeholders.
Leadership and Support
Acknowledgments and Gratitude
The CMD extended his gratitude to Shri Pralhad Joshi, Hon’ble Union Minister of New & Renewable Energy, Consumer Affairs, and Food & Public Distribution, and Shri Shripad Naik, Hon’ble Minister of State for Power and New & Renewable Energy. He also acknowledged Shri Santosh Kumar Sarangi, Secretary, Ministry of New and Renewable Energy (MNRE), and the Board of Directors for their invaluable support. This collaborative effort has been instrumental in positioning IREDA as a leader in green financing and sustainable development.
| Aspect | Details |
|---|---|
| Rating Announcement | 7th January, 2025 |
| Organization | Indian Renewable Energy Development Agency Ltd. (IREDA) |
| Rating | 'Excellent' by DPE for FY 2023-24 |
| Rank | Among top 4 CPSEs; No. 1 in Power and NBFC sectors |
| Score | 98 and above |
IREDA’s Role in India’s Renewable Energy Sector
Driving Sustainable Development
As a leading Non-Banking Financial Company (NBFC), IREDA plays a critical role in financing renewable energy projects across India. Its efforts align with the government’s vision of achieving net-zero carbon emissions and promoting sustainable energy solutions. By providing financial support for solar, wind, hydro, and other renewable energy initiatives, IREDA contributes significantly to nation-building and environmental sustainability.
The 'Excellent' rating from DPE reflects IREDA’s efficiency, innovation, and commitment to accelerating India’s transition to a green economy. This achievement also highlights the growing importance of renewable energy in India’s economic and environmental policies.
Relevance for Competitive Exams
Key Takeaways for Aspirants
For students preparing for competitive exams such as UPSC, SSC, or State PSC, IREDA’s achievement is a significant topic under current affairs, renewable energy, and public sector enterprises. Aspirants should focus on:
- The role of IREDA in financing renewable energy projects.
- The significance of the DPE’s MoU ratings in evaluating CPSE performance.
- The contribution of green financing to India’s sustainable development goals.
- The leadership of key figures like Shri Pradip Kumar Das and support from the MNRE.
This development serves as a case study for understanding the intersection of renewable energy, public sector performance, and national policy.
Key Highlights
- IREDA received the 'Excellent' rating from DPE on 7th January, 2025 for FY 2023-24.
- Ranked among the top 4 CPSEs and No. 1 in Power and NBFC sectors with a score of 98 and above.
- Shri Pradip Kumar Das, CMD, highlighted IREDA’s leadership in green financing and sustainable energy solutions.
- Support from Shri Pralhad Joshi, Shri Shripad Naik, and MNRE was instrumental in this achievement.
- Relevant for competitive exams under renewable energy, CPSE performance, and current affairs.