4 April 2024 – Indian Renewable Energy Development Agency Limited (IREDA) has reached a significant milestone in the financial year 2023-24, sanctioning loans worth Rs 37,354 crores and disbursing Rs 25,089 crores. This unprecedented performance underscores IREDA’s pivotal role in driving the renewable energy sector’s growth in India.
The substantial increase in loan sanctions, marking a 26.71% growth in the loan book to Rs 59,650 crores, reflects IREDA’s dedication to supporting India’s renewable energy targets. Pradip Kumar Das, IREDA’s Chairman and Managing Director, attributes this success to the unwavering commitment of stakeholders, business partners, and investors, emphasizing the company’s determination to amplify its impact in the coming years.
IREDA’s strong financial performance is also reflected in its share price, trading at Rs 149.75 on the BSE, showing a remarkable increase of over 43.10% since the beginning of the year. The company’s IPO launch in November 2023 resulted in a robust listing debut, with shares gaining 87.50% from the issue price of Rs 32.
As a public sector undertaking under the Ministry of New and Renewable Energy, IREDA plays a crucial role in providing financial assistance and services to projects focused on renewable energy sources and energy efficiency/conservation.
