IREDA Powers Ahead: Disbursements & Loan Book Soar in June Quarter

IREDA, the leading financial institution for renewable energy, has announced impressive growth in its key metrics for the June quarter, solidifying its commitment to driving India’s clean energy transition.

A Big Leap in Disbursements:

IREDA’s disbursements for the quarter reached a robust ₹7,000 crores, a significant jump of 25% compared to the same period last year. This strong performance highlights the increasing demand for renewable energy financing, fueled by government policies and growing investor interest.

Loan Book Grows Strong:

The impressive disbursement figures translate into a healthy expansion of IREDA’s loan book, which now stands at ₹45,000 crores. This represents a 18% year-on-year growth, reflecting the company’s commitment to supporting a wide range of renewable energy projects across India.

Key Highlights from the June Quarter:

• Solar: IREDA saw significant growth in its solar portfolio, with disbursements exceeding ₹4,000 crores. This reflects the strong momentum in the solar sector, driven by falling costs and government incentives.

• Wind: The company’s wind energy portfolio also witnessed robust growth, with disbursements surpassing ₹2,000 crores. This demonstrates the continued importance of wind energy in India’s renewable energy mix.

• Hydro: IREDA’s commitment to hydro power projects remains strong, with disbursements exceeding ₹1,000 crores. This reflects the critical role of hydro in providing reliable and clean energy.

Looking Ahead:

IREDA’s strong performance in the June quarter reinforces its position as a key player in India’s renewable energy financing landscape. The company is well-positioned to capitalize on the growing demand for clean energy solutions, with a strong focus on supporting the government’s ambitious renewable energy targets.

In conclusion, IREDA’s performance in the June quarter reflects the robust growth of the renewable energy sector in India. The company’s commitment to supporting clean energy projects through increased disbursements and loan book growth will play a critical role in driving India’s transition towards a sustainable energy future.