PSU Indian Renewable Energy Development Agency Limited (IREDA) reported an impressive performance for the first quarter (Q1) ended June 30th. IREDA loan grows manifold to Rs 9,136 crores in Q1, FY25.
With this development, the PSU 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.
During the first quarter of FY 2024-25, IREDA sanctioned loans amounting to Rs 9,136 crore, reflecting a significant growth of 382.62% 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% 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 30th, reached Rs 63,150 crore, representing a notable growth of 33.77% from Rs 47,207 crore in the previous year.
Lauding the achievement, IREDA’s Chairman and Managing Director (CMD), Mr. Pradip Kumar Das, said, “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’s efforts are aimed at fostering sustainable development and reducing carbon emissions in alignment with national and global environmental objectives.
