IREDA Drives Renewable Energy Growth with Rs 9,136 Crore Loan Surge in Q1 FY25

The Indian Renewable Energy Development Agency (IREDA), a public sector non-banking financial company, announced a significant increase in its sanctioned loans, which soared to Rs 9,136 crore for the April-June quarter of the fiscal year 2025. This marks a considerable growth from the same period last year.

Loan disbursements also experienced a notable rise, climbing 67.61 percent to Rs 5,320 crore compared to Rs 3,174 crore in the corresponding quarter of the previous year. By June 30, 2024, IREDA’s total outstanding loan book had reached Rs 63,150 crore, reflecting a 33.77 percent increase from Rs 47,207 crore recorded in the April-June period of FY24.

Pradip Kumar Das, the Chairman and Managing Director of IREDA, emphasized the organization’s commitment to advancing renewable energy projects in India. “The first quarter underscores our commitment to accelerating the deployment of renewable energy solutions in India. The substantial increase in loan sanctions and disbursements reflects our proactive approach in supporting projects that contribute to India’s renewable energy goals,” Das stated.

Operating under the Ministry of New and Renewable Energy, IREDA continues to play a pivotal role in promoting, developing, and providing financial assistance for initiatives related to new and renewable energy sources, as well as energy efficiency and conservation projects. The robust performance in the first quarter highlights IREDA’s strategic efforts to support India’s transition to sustainable energy solutions.