IREDA awarded for best performing NBFC for highest loan sanctions & disbursements in RE sector

New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) received an award from the Association of Renewable Energy Agencies of States (AREAS) for best performance in the Renewable Energy Sector during 2021-22. Union Minister of State for New and Renewable Energy Bhagwanth Khuba presented the award to IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das on Saturday in the presence of Electricity Minister of Kerala K Krishnankutty, Ministry of New & Renewable Energy's (MNRE) Secretary Indu Shekhar Chaturvedi.

IREDA has been selected for the prestigious award for achieving the highest amount of loan sanctioned and disbursed for renewable energy projects during 2021-22 amongst Non-Banking Financial Companies (NBFCs). IREDA has achieved the highest-ever loan sanction of Rs. 23,921.06 crore in FY 2021-22, with a growth of 117.44 percent over the previous year's sanction of Rs 11,001.30 crore and the highest-ever loan disbursement of Rs 16,070.82 crore in FY 2021-22, registering a record increase of 82.04 percent over the previous year's disbursement of Rs 8,828.35 crore.

In his acceptance address after receiving the award, IREDA CMD said: "We would not have been able to reach these stellar heights without the persistent efforts of our employees as well as guidance and support from MNRE and the Government of India. We are grateful to MNRE and AREAS for considering IREDA for this award. The role, responsibility and collective effort of the state and other Agencies are extremely crucial in achieving the goal of 50 percent energy from RE by 2030."

The Association of Renewable Energy Agencies (AREAS) came into existence in 2014 on the initiative of the Ministry of New & Renewable Energy. All State Nodal Agencies for Renewable Energy are members of AREAS. On the occasion of AREAS's 8th Foundation Day celebration, the awards were presented.

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