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IREDA Achieves New Record in Yearly Loan Disbursement and Approves Loan for Energy Projects

According to the ministry, the prior highest yearly loan disbursement was during financial year 2021-22 of INR 16,071 crore.

March 28, 2023. By EI News Network

Indian Renewable Energy Development Agency (IREDA) Ltd has attained a major breakthrough by accomplishing the loan disbursement of INR 16,320 crores during the fiscal year 2022-23.

According to the ministry, the prior highest yearly loan disbursement was during financial year 2021-22 of INR 16,071 crore.

IREDA cut across the highest annual loan approval of INR 23,921 crore (loan approval in fiscal year 2021-22) and affected loan approval of INR 32,578 crores.

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".

IREDA was established in the year of 1987 and has been boosting, developing and funding new and renewable sources of energy.

The company has been actively sharing to India’s transition towards a sustainable energy future by assisting financial support to Renewable Energy projects throughout the nation at competitive rates.

It funds all renewable energy technologies and value chain including solar, wind, hydro, bio-energy, waste to energy, energy efficiency, e-mobility, battery storage, biofuel and innovative technologies.

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