IREDA gets NAVRATNA Status

Published on 03 Apr 2025

• Indian Renewable Energy Development Agency (IREDA) attains ‘Navratna’ status from the Department of Public Enterprises.
• IREDA was set up in 1987 as a non-banking financial institution.
• It operates under the Ministry of New and Renewable Energy and promotes and develops projects related to renewable energy sources.
• About Navratna Status:
• The government categorizes all Public Sector Undertakings (PSUs) into three categories, namely Maharatna, Navratna, and Miniratna.
• Criteria for Navratna status :A PSU should be a Miniratna-I, Schedule ‘A’ company, should have obtained an ‘excellent’ or ‘very good’ MoU rating in three of the last five years, and must have a composite score of 60 in six performance indicators.
• It must report a net profit of more than Rs 5,000 crore for three consecutive years, and maintain an average annual turnover of Rs 25,000 crore for three years, or have an annual average net worth of over Rs 15,000 crore for three years.
• Benefits:
• Financial Independence: They invest up to ₹1,000 crore without seeking approval from the central government.
• incur  capital expenditure on purchase of new items or for replacement, without any monetary ceiling.
• To enter into technology joint ventures or strategic alliances

Keywords:

IREDA Renewable energy Solar energy wind energy Navaratna Public investment models Investment models Infrastructure