Indian Renewable Energy Development Agency Limited (IREDA) is an Indian public sector enterprise which provides financial assistance and other services to projects related to renewable sources of energy and energy efficiency/conservation. Formed in 1987, IREDA is a Navratna organisation owned by the Government of India and administratively controlled by the Ministry of New and Renewable Energy (MNRE). On 26 April 2024, IREDA was granted "Navratna" status by the Department of Public Enterprises (DPE).
Company is the nation's largest pure-play green financing NBFC. It provides a comprehensive range of financial products and related services, from project conceptualization to post-commissioning, for Renewable Energy (RE) projects and other value chain activities, such as equipment manufacturing and transmission. The company was notified as a public financial institution and is also registered as a non-deposit taking NBFC with the RBI. RBI classified company as "Infrastructure Finance Company".
The company was established for the promotion, development and commercialisation of new and renewable sources of energy and provides financial assistance to energy efficiency and conservation projects. The company promotes, develops, and extends financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation. It also generates solar, wind, hydro, biomass, biofuels, and waste to energy power.
IREDA's financing activities span the entire renewable energy value chain, supporting various stakeholders from project developers to equipment manufacturers. The company has positioned itself as a key enabler of India's clean energy transition, offering both fund-based and non-fund-based financial products. The organisation offers financial products (fund- and non-fund-based) associated services, from project inception to post-completion, for renewable energy projects and related activities like equipment manufacturing and transmission.
Mkt Cap: 46,821 Crore (down -27.2% in 1 year) as per recent data. In November 2023, IREDA went public with an initial public offering (IPO), listing on NSE and BSE. The company's stock has experienced significant volatility since its public listing, reflecting the dynamic nature of the renewable energy sector and market conditions.
IREDA's market capitalization stands at Rs 47035.88 crore. Over the past year, shares have declined by 1.91%, but have shown slight gains of 0.09% and 1.78% in the last week and two weeks, respectively. Promoter Holding: 71.8% indicating strong government backing and control.
Indian Renewable Energy Development Agency Limited (IREDA) has announced its financial results for the first quarter (Q1) of financial year (FY) 2025-26, ending June 30, 2025. The results are based on provisional figures and subject to audit.
Key operational metrics for Q1 FY26:
- Loan sanctions of Rs 117.40 billion, marking a 29 per cent year-on-year (YoY) increase from Rs 91.36 billion in Q1 FY 2024-25
- Loan disbursements rose by 31 per cent YoY to Rs 69.81 billion, up from Rs 53.26 billion in Q1 FY 2025-26
- Outstanding loan book reached Rs 799.60 billion, up 27 per cent from Rs 632.07 billion in Q1 FY 2024-25
Revenue: 6,742 Cr · Profit: 1,699 Cr for the financial year. IREDA Reports Highest Ever PAT of ₹1,699 Crore for FY 2024-25, First Company in the NBFC and Banking Sector to Announce Audited Results and IREDA's Loan Sanctions Rise 27% to ₹47,453 Crore, Loan Book Expands 28% to ₹76,250 Crore in FY 2024-25.
In Q1FY26, the company successfully raised ₹2,005.90 Crore through a Qualified Institutional Placement at an issue price of ₹165.14 per share. A total of 12.15 Crore shares were issued at a 4.5% discount to the floor price of ₹173. Indian Renewable Energy Development Agency Ltd (IREDA) has launched a Qualified Institutional Placement (QIP) to raise up to ₹5,000 crore, with a floor price set at ₹173.83 per share. The funds will support green energy financing, reflecting IREDA's commitment to renewable energy initiatives.
IREDA has been actively expanding its presence and partnerships to strengthen its market position. Indian Renewable Energy Development Agency Limited (IREDA) has inaugurated a new office in Gujarat International Finance Tec-City (GIFT), Gandhinagar, dedicated to offering debt options denominated in foreign currencies. This strategic move aims to support green financing initiatives.
The company has also been forming strategic partnerships with various financial institutions. The Indian Renewable Energy Development Agency Limited (IREDA) and the Bank of India (BoI) have signed a Memorandum of Understanding (MoU) for co-lending, co-origination, and loan syndication for renewable energy projects.
NCLT admitted insolvency for Gensol EV Lease Ltd with Rs. 218.95 Cr default on June 13, 2025. NCLT admitted insolvency application against Gensol Engineering highlighting some of the credit risks associated with IREDA's lending portfolio.
The quarter's growth in sanctions, disbursements, and the loan book indicates an increase in demand for renewable energy financing, along with IREDA's responsiveness in project funding. With the continued push for energy transition under national programs like Green Hydrogen, Solar Parks, and Wind-Solar Hybrid Projects, IREDA's role as a key public sector financing arm is only expected to grow further in the coming quarters.
The company's strong government backing, combined with India's ambitious renewable energy targets and the global shift towards clean energy, positions IREDA well for continued growth. Stock is trading at 4.36 times its book value and Though the company is reporting repeated profits, it is not paying out dividend, indicating that the company is reinvesting profits for growth rather than distributing them to shareholders.
