IREDA Sets Loan Records for Green Financing

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.

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Pradip Kumar Das, Chairman and Managing Director of Indian Renewable Energy Development Agency Limited (IREDA),

Pradip Kumar Das, Chairman and Managing Director of IREDA

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Indian Renewable Energy Development Agency Limited (IREDA), the largest pure-play green financing NBFC in the country, has achieved its highest-ever annual loan sanctions and disbursements in the financial year 2023-24. The company 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.

The business performance (provisional) for the quarter and year ended March 31, 2024, subject to audit, is as follows:

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

(In Rs. Crore)

 

Particulars

For the 4th Quarter ended

For the Year ended 31st March

Growth (%)

2023-24

2022-23

2023-24

2022-23

For Q4

Year ended

Loan Sanctioned

23,796

11,797

37,354

32,587

101.71%

14.63%

Loan Disbursements

12,869

11,291

25,089

21,639

13.98%

15.94%

Loan book Outstanding as on 31st March 2024

 

 

59,650

 

47,076

 

 

26.71%

 

Commenting on the performance of the company, Chairman and Managing Director of IREDA Shri 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.”

IREDA Green Financing