New Delhi: Indian Renewable Energy Development Agency Ltd. (IREDA) has received a significant upgrade in its long-term international issuer credit rating from S&P Global Ratings, moving from ‘BBB–’ to ‘BBB’ with a Stable Outlook. The agency also revised IREDA’s short-term rating to ‘A-2’ from ‘A-3’, aligning its credit profile with India’s sovereign rating.
This upgrade underscores IREDA’s strategic importance to India’s renewable energy mission and reflects its robust asset quality, sound capitalization, and strong liquidity profile. The enhanced rating is expected to strengthen IREDA’s funding capabilities, reduce its cost of capital, and boost investor confidence across equity and debt markets.
S&P Global Ratings cited IREDA’s consistent financial performance and its pivotal role in financing green energy projects as key factors behind the rating improvement. The alignment with India’s sovereign rating positions IREDA to access global capital markets more competitively and reinforces its leadership as the country’s premier green financing institution.
“We are delighted with this upgrade by S&P Global Ratings, which not only validates IREDA’s financial strength but also highlights our critical role in India’s renewable energy transition,” said Pradip Kumar Das, Chairman and Managing Director, IREDA. “This alignment with the sovereign rating will enable us to access capital more competitively and deepen investor confidence in our long-term strategy.”
The rating upgrade comes at a time when India is accelerating its clean energy transition, and institutions like IREDA are playing a central role in mobilizing capital for sustainable infrastructure. With this development, IREDA is better positioned to support large-scale renewable energy projects and contribute to the country’s net-zero ambitions.
