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Home » News » IREDA achieves the highest loan sanctions and disbursements  

IREDA achieves the highest loan sanctions and disbursements  

July 3, 2024 2:26 pm

IREDA achieves the highest loan sanctions and disbursements  
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The substantial increase in loan sanctions and disbursements reflects IREDA’s renewable energy goals.

Indian Renewable Energy Development Agency Ltd. (IREDA) reports a remarkable performance for the first quarter ending June 30, 2024. According to provisional figures, subject to audit, the company recorded substantial increases in loan sanctions, disbursements, and its loan book.

During the first quarter of FY 2024–25, IREDA sanctioned loans amounting to ₹ 9,136 crore, marking a substantial growth of 382.62 per cent compared to ₹1,893 crore in the previous fiscal year. Disbursements during the same period stood at ₹5,320 crore, indicating a 67.61 per cent year-on-year increase compared to ₹3,174 crore in the first quarter of FY 2023–24. As of June 30, 2024, the total loan book outstanding reached ₹63,150 crore, showing a notable growth of 33.77 per cent from ₹47,207 crore in the previous year.

Pradip Kumar Das, CMD, IREDA, commented on the achievement: “IREDA’s robust performance in the first quarter underscores our commitment to accelerating the deployment of renewable energy solutions in India. The substantial increase in loan sanctions and disbursements reflects our proactive approach to supporting projects contributing to India’s renewable energy goals.”

IREDA continues to play a pivotal role in financing renewable energy projects across various sectors, including solar, wind, hydro, biomass, waste to energy, ethanol, electric mobility, and emerging technologies like green hydrogen and offshore wind, etc. The efforts from the company aim to foster sustainable development and reduce carbon emissions in alignment with national and global environmental objectives.

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