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In an exchange filing, the Department of Public Enterprises (DPE) vide its letter dated April 26, 2024 has granted the Navratna status to Indian Renewable Energy Development Agency Limited (IREDA).
As Navratna PSU, IREDA is now eligible to avail significant advantages with greater benefits, which includes:
- Greater financial and operational autonomy, allowing for swifter decision-making and improved responsiveness to market shifts.
- The enhanced freedom also translates to increased investment opportunities, attracting capital for growth initiatives.
- The Navratna designation serves as a mark of excellence, bolstering the PSU’s market reputation and attracting skilled personnel.
- This combination of factors empowers Navratna PSUs to operate more efficiently, compete more effectively, and achieve sustainable growth.
IREDA is a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). As on March 2024, GoI held 75% stake in IREDA.
