IREDA upgraded from ‘Schedule B’ to 'Schedule A' CPSE
New Delhi: Renewable Energy Development Agency Ltd (IREDA), the largest pure-play green financing Non-Banking Finance Company in India, has been upgraded from 'Schedule B' to the 'Schedule A' category of Central Public Sector Enterprises.
The upgrade has been effected through an Office Memorandum dated 27th September, 2023, issued by Department of Public Enterprises, Ministry of Finance.
The elevation of IREDA to the ‘Schedule A’ category opens the door for its upgradation from “Mini Ratna (Category– I)” to “Navratna” status.
This will grant increased financial autonomy to IREDA, allowing the organization to make more strategic decisions to further its commitment to accelerating the adoption of renewable energy solutions across the country.
Expressing his delight and gratitude at the upgradation, Chairman and Managing Director of IREDA, Pradip Kumar Das said: "This elevation to 'Schedule A' status is a testament to the tireless efforts of our dedicated team and the trust placed in us by the Government of India.
“It not only acknowledges our past accomplishments but also underscores the immense potential we hold in driving the renewable energy sector's growth in India. By attaining 'Navratna' status and the accompanying increased financial autonomy, we will be in a stronger position to drive the transformation of India's energy landscape towards sustainability."