New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) has reported a remarkable performance for the first quarter (Q1) ended June 30. 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 Rs 9,136 crore, reflecting a significant growth of 382.62 percent compared to Rs 1,893 crore in the corresponding quarter of the previous fiscal year. Disbursements during the same period stood at Rs 5,320 crore, marking an increase of 67.61 percent year-on-year compared to Rs 3,174 crore in the first quarter of FY 2023-24. The total loan book outstanding as of June 30, reached Rs 63,150 crore, representing a notable growth of 33.77 percent from Rs 47,207 crore in the previous year.
IREDA CMD Pradip Kumar Das 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 company's efforts are aimed at fostering sustainable development and reducing carbon emissions in alignment with national and global environmental objectives.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)