IREDA Reports Stellar Growth for December 31, 2024 Quarter

Indian Renewable Energy Development Agency Ltd. (IREDA) has reported stellar growth for the December 31, 2024 quarter. As per provisional figures, IREDA sanctioned loans worth INR 31,087 crore in third quarter, marking an extraordinary 129 percent year-on-year (Y-o-Y) growth compared to INR 13,558 crore in the corresponding period last year.

Loan disbursements also witnessed significant growth, increasing by 41 percent Y-o-Y to INR 17,236 crore from INR 12,220 crore in the previous year. The outstanding loan book surged by 36 percent, reaching INR 69,000 crore as of December 31, 2024, compared to INR 50,580 crore last year.

IREDA has also been recognized as one of the Top 5 Wealth Creators in India for the period November 2023 to November 2024, securing the prestigious 2nd position by the leading business daily. It is the only public sector enterprise on this esteemed list, reflecting its commitment to wealth creation and excellence in the renewable energy sector.

Pradip Kumar Das, Chairman and Managing Director, IREDA, said, “IREDA’s outstanding performance reflects our unwavering commitment to driving India’s renewable energy transition. The 129 percent growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in supporting green energy projects. The recognition as one of a top wealth creator, especially as the sole PSU on the list, reaffirms our unwavering focus on innovation, sustainability, and good governance. We remain committed to powering a greener and self-reliant India."