New Delhi: Indian Renewable Energy Development Agency Ltd. (IREDA) has delivered a remarkable performance for the quarter ending December 31, 2024, showcasing its pivotal role in advancing India’s renewable energy ambitions.
According to provisional data, IREDA’s loan sanctions soared by an extraordinary 129 percent year-on-year (Y-o-Y), reaching Rs 31,087 crore in Q3 FY'24, compared to Rs 13,558 crore in the corresponding period last year. Loan disbursements also reflected robust growth, climbing 41 percent Y-o-Y to Rs 17,236 crore from Rs 12,220 crore in the previous year. The outstanding loan book registered a 36 percent increase, standing at Rs 69,000 crore as of December 31, 2024, compared to Rs 50,580 crore last year.
Highlighting its exceptional achievements, IREDA was recently ranked as the second-best wealth creator in India for the period November 2023 to November 2024 by a leading business daily. Notably, it is the only public sector enterprise (PSE) to feature on the list of the Top 5 Wealth Creators, underlining its commitment to value creation and its leadership in the renewable energy sector.
IREDA's Chairman and Managing Director (CMD) Pradip Kumar Das attributed the stellar performance to the agency’s dedication to fostering India’s green energy transition. “IREDA’s outstanding performance reflects our unwavering commitment to driving India’s renewable energy transition. The 129 percent growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in supporting green energy projects. The recognition as one of the top wealth creators, especially as the sole PSU on the list, reaffirms our unwavering focus on innovation, sustainability, and good governance. We remain committed to powering a greener and self-reliant India,” he said.
IREDA’s robust financial performance comes amidst India’s accelerated push towards achieving its renewable energy targets. With a strong focus on innovation, sustainability, and good governance, the organization continues to cement its position as a key enabler in the country’s transition to clean energy.
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