IREDA's Loan Sanctions Surge To Rs 9,136 Crore In Q1 FY25

Public sector non-banking financial company IREDA on Monday said it posted manifold growth in its sanctioned loan to Rs 9,136 crore during April-June FY25. Loan disbursements also rose 67.61% to Rs 5,320 crore in the period under review from Rs 3,174 crore in the year-ago period.

The total loan book outstanding as of June 30, 2024 was at Rs 63,150 crore, up 33.77% over Rs 47,207 crore in April-June FY24, IREDA said in a statement.

Pradip Kumar Das, CMD, IREDA, said, "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." Indian Renewable Energy Development Agency, under the Ministry of New and Renewable Energy, has been engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.