New Delhi, Apr 2 (KNN) The Indian Renewable Energy Development Agency (IREDA), the country's premier green finance institution, recorded its highest ever annual loan sanctions and disbursements in the financial year 2023-24, data showed.

According to the figures released by IREDA, the organisation sanctioned loans worth Rs 37,354 crores while disbursing Rs 25,089 crores to renewable energy projects across the nation during the fiscal.

This represented a substantial 26.71 per cent year-on-year increase in IREDA's loan book size, which now stands at Rs 59,650 crores.

Pradip Kumar Das, Chairman and Managing Director of IREDA, said the record lending levels reflect the agency's unwavering commitment to catalysing India's clean energy transition through strategic green finance interventions. He attributed the achievement to the valuable support from IREDA's stakeholders, business partners and investors.

"IREDA's record loan disbursements in FY 2023-24 underscore our steadfast efforts to drive the renewable energy revolution in India," Das stated. "This performance was made possible by the vital support of our ecosystem. We look forward to augmenting our transformative impact going forward."

The strong financial results cement IREDA's critical role in mobilising investment to help India achieve its Nationally Determined Contributions (NDCs) and ambitious renewable energy targets. Industry experts highlighted IREDA's instrumental facilitation in positioning India as a global leader in clean power deployment.

(KNN Bureau)