IREDA Records Impressive Loan Sanction Growth; Accelerates Renewable Energy Financing

Public sector non-banking financial company IREDA reported a significant growth in its loan sanctions to Rs 9,136 crore during April-June FY25. Loan disbursements rose 67.61% to Rs 5,320 crore, and the total loan book outstanding as of June 30, 2024, reached Rs 63,150 crore. CMD Pradip Kumar Das highlighted IREDA's commitment to accelerating India's renewable energy projects.

Public sector non-banking financial company IREDA on Monday announced a substantial growth in its sanctioned loans, reaching Rs 9,136 crore for the April-June FY25 period.

Loan disbursements also witnessed a 67.61 percent increase to Rs 5,320 crore, compared to Rs 3,174 crore in the same period last year.

As of June 30, 2024, IREDA's total loan book outstanding stood at Rs 63,150 crore, marking a 33.77 percent rise from Rs 47,207 crore recorded in April-June FY24, the company stated.

CMD Pradip Kumar Das remarked, '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 in supporting projects that contribute to India's renewable energy goals.'

The Indian Renewable Energy Development Agency (IREDA), operating under the Ministry of New and Renewable Energy, continues to promote, develop, and extend financial assistance for projects related to new and renewable energy sources and energy efficiency/conservation.

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