IREDA Powers Ahead with Impressive Loan Surge

Indian Renewable Energy Development Agency (IREDA) recorded a notable 41% growth in loan disbursements, amounting to Rs 17,236 crore in Q3. Loan sanctions soared by 129% YoY, highlighting IREDA’s crucial role in supporting India's renewable energy projects and showcasing stakeholders' growing confidence.

State-owned Indian Renewable Energy Development Agency (IREDA) achieved a remarkable 41% increase in loan disbursements, reaching Rs 17,236 crore in the December quarter. According to provisional figures, IREDA sanctioned loans totaling Rs 31,087 crore in the third quarter—an astounding 129% rise compared to the previous year's Rs 13,558 crore, as stated in a company release on Tuesday evening.

Additionally, the company saw a significant 41% year-on-year uptick in loan disbursements, rising from Rs 12,220 crore the previous year, as per the statement. The agency's outstanding loan book expanded by 36%, hitting Rs 69,000 crore, up from Rs 50,580 crore as of December 31, 2024.

Pradip Kumar Das, Chairman and Managing Director of IREDA, commented on the results, saying, 'IREDA's impressive performance showcases our steadfast commitment to advancing India's renewable energy shift. The notable 129% growth in loan sanctions highlights the increasing trust stakeholders place in our abilities and our pivotal role in bolstering green energy initiatives.'

(With inputs from agencies.)