IREDA Q1: Loan Sanctions Skyrocket by 383 Percent, Loan Book Reaches INR 63,150 Crore
During the first quarter of FY 2024-25, IREDA sanctioned loans amounting to INR 9,136 crore, reflecting a growth of 382.62 percent compared to INR 1,893 crore in the corresponding quarter of the previous fiscal year.
July 01, 2024. By Abha Rustagi
During the first quarter of FY 2024-25, IREDA sanctioned loans amounting to INR 9,136 crore, reflecting a growth of 382.62 percent compared to INR 1,893 crore in the corresponding quarter of the previous fiscal year.
Disbursements during the same period stood at INR 5,320 crore, marking an increase of 67.61 percent year-on-year compared to INR 3,174 crore in the first quarter of FY 2023-24. The total loan book outstanding as of June 30, 2024, reached INR 63,150 crore, representing a growth of 33.77 percent from INR 47,207 crore in the previous year.
Pradip Kumar Das, CMD of IREDA, highlighted the organization's strong performance in the first quarter, stating, "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 in supporting projects that contribute to India's renewable energy goals."
IREDA continues to play a key 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. The company's efforts are aimed at facilitating sustainable development and reducing carbon emissions in alignment with national and global environmental objectives.
please contact: contact@energetica-india.net.
Nehal Gupta
Managing Director
AMU Drives Clean Energy Transition with Tailored EV Financing Solutions
Maurits van Tol
CEO - Catalyst Technologies
Driving Net Zero: How Johnson Matthey is Pioneering Sustainable Solutions Worldwide
Sharat Goyal
Founder
Impact Infracap Bridges Market Gaps for Key Renewable Energy Components
Pashu Gopalan
President & CEO
The Future of Distributed Solar in India: Market Potential, Growth, and Fenice Energy’s Role
Udit Garg
Director & CEO
India's Energy Security: A Multi-Faceted Challenge and Opportunity