IREDA Witnesses 26.71% Growth In Loan Book In 2023

IREDA Incorporates Subsidiary In GIFT City, Gujarat

Indian Renewable Energy Development Agency Limited (IREDA), a green Non-Banking Financial Company (NBFC) in the country, claims to have achieved its highest-ever annual loan sanctions and disbursements in the financial year 2023-24.

IREDA has sanctioned loans amounting to Rs. 37,354 crores and disbursed loans worth Rs. 25,089 crores during the fiscal year. This has led to a significant growth of 26.71% in the loan book, which now stands at Rs. 59,650 crores.

Last year, IREDA increased the loan dispersed compared to last year, in which IREDA raised a loan disbursement of Rs. 16,320 crores. and loan sanction of Rs. 23,921 crores (loan sanction in FY 2021- 22). It had nearly touched the loan sanction of Rs. 32,578 crores (as of 27th March 2023). 

The business performance (provisional) for the quarter and year ended March 31 is as follows:

IREDA Performance for Quarter / Year Ended 2023-24 (Provisional)

Chairman and Managing Director of IREDA Pradip Kumar Das said, “IREDA’s record loan sanctions and disbursements for the financial year 2023-24 underscore our untiring commitment to driving the renewable energy revolution in the country. This achievement wouldn’t have been possible without the invaluable support of our stakeholders, business partners, and investors. We are happy to contribute significantly towards Govt. of India’s renewable energy targets and look forward to further amplifying our impact in the coming years.”