The Indian Renewable Energy Development Agency (IREDA) secured an 'Excellent' rating with a score of 96.42 out of 100 for its performance in the Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) for Financial Year 2024-25, marking the fifth consecutive year of 'Excellent' ratings. IREDA is a Mini Ratna (Category-I) Central Public Sector Enterprise and Non-Banking Financial Company (NBFC) under the Ministry of New and Renewable Energy, tasked with promoting, developing, and extending financial assistance for renewable energy and energy efficiency projects across India. The agency's strong performance comes against the backdrop of India's ambitious renewable energy expansion — the country aimed to achieve 500 GW of non-fossil fuel-based energy capacity by 2030 as part of its Nationally Determined Contributions (NDC) under the Paris Agreement. On the macroeconomic front, the United Nations Department of Economic and Social Affairs (UNDESA) projected India's GDP growth at 7.4% for FY 2025-26, making it the world's fastest-growing major economy. India's growth is being driven by strong domestic consumption, sustained public capital expenditure at 3.4% of GDP, and robust performance in the services and manufacturing sectors. Rajasthan is emerging as a key renewable energy state — it ranks among the top states in solar energy capacity, with the Bhadla Solar Park (world's largest solar park at ~2,245 MW) in Jodhpur district being a flagship achievement. The state is also expanding wind energy capacity in the Jaisalmer and Barmer corridors.
IREDA Achieves 'Excellent' Rating for Fifth Consecutive Year with 96.42/100 Score; UN-DESA Projects India Growth at 6.6% in 2026, Driven by Consumption and Public Investment
The Indian Renewable Energy Development Agency (IREDA) secured an 'Excellent' rating with a score of 96.42 out of 100 for its performance in the Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) for Financial Year 2024-25, marking the fifth consecutive year of 'Excellent' ratings. IREDA is a Mini Ratna (Category-I) Central Public Sector Enterprise and Non-Banking Financial Company (NBFC) under the Ministry of New and Renewable Energy, tasked with promoting, developing, and extending financial assistance for renewable energy and energy efficiency projects across India. The agency's strong performance comes against the backdrop of India's ambitious renewable energy expansion — the country aimed to achieve 500 GW of non-fossil fuel-based energy capacity by 2030 as part of its Nationally Determined Contributions (NDC) under the Paris Agreement. On the macroeconomic front, the United Nations Department of Economic and Social Affairs (UNDESA) projected India's GDP growth at 7.4% for FY 2025-26, making it the world's fastest-growing major economy. India's growth is being driven by strong domestic consumption, sustained public capital expenditure at 3.4% of GDP, and robust performance in the services and manufacturing sectors. Rajasthan is emerging as a key renewable energy state — it ranks among the top states in solar energy capacity, with the Bhadla Solar Park (world's largest solar park at ~2,245 MW) in Jodhpur district being a flagship achievement. The state is also expanding wind energy capacity in the Jaisalmer and Barmer corridors.
Key facts
- IREDA scored 96.42/100 in its MoU with MNRE for FY 2024-25, fifth consecutive 'Excellent' rating.
- IREDA is a Mini Ratna Category-I CPSE and NBFC under the Ministry of New and Renewable Energy.
- India aims to achieve 500 GW of non-fossil fuel capacity by 2030 under Paris Agreement NDC targets.
- UNDESA projected India's GDP growth at 7.4% for FY 2025-26, the world's fastest-growing major economy.
- Bhadla Solar Park in Jodhpur (~2,245 MW) is the world's largest solar park.
- Rajasthan is expanding wind energy capacity in the Jaisalmer-Barmer corridor.
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What MoU performance score did IREDA achieve for FY 2024-25, as stated in the article?
IREDA secured an Excellent rating with 96.42 out of 100 in its MoU with MNRE for FY 2024-25, marking the fifth consecutive year of Excellent ratings for the Mini Ratna (Cat-I) NBFC.
Source: Deloitte India Economic Outlook / UNDESA / IREDA Annual Report
Frequently asked questions
What rating did IREDA achieve in its MoU with MNRE for FY 2024-25, and how many consecutive years has it received this rating?
IREDA achieved an 'Excellent' rating with a score of 96.42 out of 100 in its MoU with the Ministry of New and Renewable Energy (MNRE) for FY 2024-25. This was the fifth consecutive year that IREDA received the 'Excellent' rating.
What is the status of IREDA under the Government of India, and what is its primary mandate?
IREDA is a Mini Ratna (Category-I) Central Public Sector Enterprise (CPSE) and a Non-Banking Financial Company (NBFC) under the Ministry of New and Renewable Energy. Its primary mandate is to promote, develop, and provide financial assistance for renewable energy and energy efficiency projects across India.
What is India's non-fossil fuel capacity target by 2030 under its Paris Agreement NDC commitments?
India aims to achieve 500 GW of non-fossil fuel-based electricity generation capacity by 2030 as part of its Nationally Determined Contributions (NDC) under the Paris Agreement.
What GDP growth rate did UNDESA project for India in FY 2025-26, and what factor is driving it?
The United Nations Department of Economic and Social Affairs (UNDESA) projected India's GDP growth at 7.4% for FY 2025-26, making it the world's fastest-growing major economy. The renewable energy push is a significant driver of this growth.
Which is the world's largest solar park, and where is it located in Rajasthan?
Bhadla Solar Park, located in Jodhpur district of Rajasthan, is the world's largest solar park with an installed capacity of approximately 2,245 MW.
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