Ireda Reports 303% Growth In Loan Sanctions in H1FY25
Loan disbursements rise by 56 per cent, Reaching Rs 9,787 crore amid renewable energy push
The Indian Renewable Energy Development Agency Limited (IREDA) has reported an impressive 303 per cent growth in loan sanctions for the first half of FY24-25.
As per provisional figures up to 30 September 2024, Ireda's loan sanctions surged to Rs 17,860 crore, a significant increase from Rs 4,437 crore during the same period last year.
Loan disbursements also saw a substantial rise, growing by 56 per cent to Rs 9,787 crore, compared to Rs 6,273 crore as of 30 September 2023. Additionally, the loan book outstanding reached Rs 64,500 crore, marking a 36 per cent increase from Rs 47,514 crore in the previous year.
Pradip Kumar Das, Chairman and Managing Director, Ireda, said, “This exceptional growth shows our commitment to driving India’s renewable energy goals. Our financial results reflect the growing demand for clean energy financing, and we remain dedicated to supporting the country's green energy transition. We are grateful to our investors, stakeholders, and customers for their trust and support in achieving this milestone.”
Ireda's strong performance in the first half of the financial year highlights the increasing momentum in renewable energy projects across India, with the agency playing a key role in financing this vital sector.
