IREDA gets Navratna status – Careers Ready


recently Indian Renewable Energy Development Agency (IREDA) by the Department of Public Enterprises 'Navratna' Was given the status of.

related facts

On comparing the figures from year to year, IREDA sees 32% rise in net profitwhile quarter-on-quarter it remained consistent at ₹337 crore.

About Navratna status

  • Criteria for Classification

    • To qualify for Navratna status, a company must first Miniratna Category-I must be obtained and Central Public Sector Enterprises (CPSEs) Must be included in Schedule A of.
    • CPSEs have been included in Memorandum of Understanding (MOU) for three years out of the last five years. Must achieve an 'Excellent' or 'Very Good' rating.
    • Further, the eligible CPSEs Must achieve an overall score of 60 or above in six selected performance indicators. (see image)
  • profit received
    • Government of India Major Public Sector Undertakings (PSUs) Navratna status was granted to them, giving them Rs.Has got the right to execute important investments up to Rs 1,000 crore.
    • These firms annually Allowed to allocate up to 30% of your net worth, Provided that it remains less than ₹1,000 crore.
    • they have There is an option to participate in joint ventures, form partnerships and establish foreign subsidiaries.
      • This status empowers the boards of directors of these CPSEs to permit mergers and acquisitions in India and abroad.
  • However, to invest them abroad Cabinet Committee on Economic Affairs (CCEA) Requires approval from.

About Indian Renewable Energy Development Agency (IREDA)

  • IREDA Ministry of New and Renewable Energy (Government of India) under a non-banking financial institutions Is.
  • Establishment: March 1987
  • developmental stage
    • In the year 1987: its establishment in the year 1987 happened and later it Companies Act, 1956 Under Section 4 'A' of 'Public Financial Institution' It is classified under, and it is officially registered with the Reserve Bank of India (RBI). A non-banking financial company (NBFC) Is registered as.
    • In the year 2015: The Ministry of New and Renewable Energy (Government of India) has Mini Ratna (Category-I) Gave the status of.
    • in the year 2023: Ministry of New and Renewable Energy (Government of India) has upgraded IREDA from Schedule B to Schedule A category. Central Public Sector Enterprises have been upgraded. This paved the way for IREDA to attain Navratna status, giving it greater financial autonomy.
    • In the year 2024: Department of Public Enterprises to IREDA 'Navratna' status Gave.
  • Mandate: IREDA provides financial assistance for setting up projects related to new and renewable sources of energy. Engaged in promoting, developing and expanding aid.
    • It provides financial assistance to projects which Use of new and sustainable sources By doing this we produce electricity. In this The government has a 75% ownership stake.

Some notable projects of IREDA

  • Green Rooftops Scheme
  • World's First Floating Solar PV Project
  • Financing Battery Energy Storage Systems

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