IREDA Sets New Records In Annual Loan Disbursement, Sanction For Renewable Energy Projects In FY23

Indian Renewable Energy Development Agency (IREDA) Ltd has achieved a significant milestone by achieving the loan disbursement of Rs 16,320 during FY 2022-23, Union Ministry of New and Renewable Energy said on Tuesday (28 March).

The earlier highest annual loan disbursement was during FY 2021-22 of Rs 16,071 crore, according to the ministry.

IREDA also crossed highest annual loan sanction of Rs 23,921 crore (loan sanction in FY 2021-22) and touched loan sanction of Rs 32,578 crores (as on 27 March 2023), it added.

Established in 1987, IREDA has been promoting, developing and financing new and renewable sources of energy.

It finances all RE technologies and value chain such as solar, wind, hydro, bio-energy, waste to energy, energy efficiency, e-mobility, battery storage, biofuel and new and emerging technologies.

Speaking on the achievement, IREDA chairman and managing director Pradip Kumar Das said, "The record-breaking loan disbursement and sanction reflects the company's commitment towards its mission of promoting and financing renewable energy projects in India. We are confident that, this will further strengthen our position as a leading financial institution in the RE sector in the country".