IREDA Crosses Highest Annual Loan & Sanction Loan Disbursement for Renewable Energy Projects

IREDA Crosses Highest Annual Loan & Sanction Loan Disbursement for Renewable Energy Projects

Mini-ratna CPSE Indian Renewable Energy Development Agency Ltd (IREDA) has revealed that it has crossed the highest annual loan disbursement of Rs.16,071 crores (loan disbursement in FY 2021-22) in the history of the firm for the Financial Year 2022-23.

IREDA shared that it exceeded the historical mark and touched loan disbursement of Rs. 16,320 crores. The firm has also crossed highest annual loan sanction of Rs. 23,921 crores (loan sanction in FY 2021- 22) and touched loan sanction of Rs. 32,578 crores (as on 27th March 2023). Last year, IREDA achieved loan disbursement of Rs. 16,071 cores and loan sanction of Rs. 23,921 crores.

The Chairman and Managing Director of IREDA, Pradip Kumar Das, said about the milestone, “The record-breaking loan disbursement and sanction reflects the company’s commitment towards its mission of promoting and financing renewable rnergy projects in India. We are confident that, this will further strengthen our position as a leading financial institution in the renewable energy sector in the country.”

In January, a Memorandum of Understanding was signed between IREDA and MNRE. This was towards the purpose of setting annual performance target for the year 2022-23. The goal has been pegged by the Government of India at Rs 3,361 crores for Revenue from Operation.

Pradip Kumar Das had recently indicated that IREDA has been delivering exemplary performances for the previous two financial years and is set to meet the goals. IREDA informed that its Profit After Tax (PAT) in second quarter of FY 2022-23, as compared to corresponding period during FY 2021-22, soared 67%.