IREDA Achieves Record Highs in Loan Sanctions and Disbursements for FY 2023-24

Green Financing Leader Drives Renewable Energy Growth

IREDA Achieves Record Highs in Loan Sanctions and Disbursements for FY 2023-24

New Delhi, April 02 - The Indian Renewable Energy Development Agency (IREDA) has achieved a significant milestone, recording its highest ever annual loan sanctions and disbursements in the financial year 2023-24. This achievement underscores IREDA's unwavering commitment to supporting India's renewable energy goals.

In a statement released by the Ministry of New and Renewable Energy, IREDA reported sanctioning loans worth a staggering Rs 37,354 crore during the fiscal year. This represents a 14.63% increase compared to the Rs 32,587 crore sanctioned in the previous year (2022-23). Notably, loan disbursements also reached a new high of Rs 25,089 crore in FY 2023-24, exceeding the Rs 21,639 crore disbursed in FY 2022-23.

The final quarter (January-March) of FY 2023-24 witnessed a particularly strong performance, with loan approvals more than doubling to Rs 23,796 crore compared to Rs 11,797 crore in the same quarter of the previous year.

Pradeep Kumar Das, IREDA's Chairman and Managing Director, hailed this achievement as a testament to the organization's dedication to fostering the renewable energy revolution in India. "IREDA's record loan approval and disbursement for the last financial year underlines our strong commitment to drive the renewable energy revolution in the country," he said.

As a leading public sector undertaking, IREDA plays a crucial role in promoting renewable energy by providing financial assistance and other services to projects focused on renewable energy sources, energy efficiency, and conservation efforts. This record-breaking performance by IREDA signifies a positive step towards a greener future for India.