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S&P Upgrades IREDA’s Long-Term International Credit Rating to ‘BBB’ with Stable Outlook

The Indian Renewable Energy Development Agency (IREDA) has announced that S&P Global Ratings has upgraded its long-term issuer credit rating from ‘BBB–’ to ‘BBB’ with a Stable Outlook. The agency has also revised IREDA’s short-term rating from ‘A-3’ to ‘A-2’.

With this upgrade, IREDA’s international credit rating now aligns with India’s sovereign rating, underscoring its strategic importance in advancing the nation’s renewable energy mission.

According to S&P Global Ratings, the upgrade reflects IREDA’s robust asset quality, sound capitalisation, and strong liquidity position. These financial strengths, combined with IREDA’s consistent operational performance, have reinforced its reputation as a trusted green financing institution in India’s clean energy ecosystem.

The improved rating is expected to enhance IREDA’s funding capabilities, lower its cost of capital, and boost investor confidence across both equity and debt markets — further supporting the company’s goal of financing sustainable energy projects nationwide.

Commenting on the development, Pradip Kumar Das, Chairman and Managing Director of IREDA, said:

“We are delighted with this upgrade by S&P Global Ratings, which validates our financial strength and highlights our vital role in India’s renewable energy transition. Aligning with the sovereign rating will allow us to access capital more competitively and strengthen investor confidence in our long-term growth strategy.”

This milestone reinforces IREDA’s leadership as India’s premier green financing institution, advancing the country’s efforts toward a low-carbon and energy-secure future.