IREDA makes record Rs 16,320 loan disbursements; sanctions Rs 32,578 crore as loan in FY23

State-owned IREDA on Monday said it has made a record Rs 16,320 loan disbursement and sanctioned loans worth Rs 32,578 crore in the 2022-23 fiscal.

The milestone achieved is the highest in the history of the company, Indian Renewable Energy Development Agency Ltd (IREDA) said in a statement.

"The company exceeded the historical mark and touched loan disbursement of Rs 16,320 crore and touched loan sanction of Rs 32,578 crore as on March 27, 2023). Last year, IREDA has achieved loan disbursement of Rs 16,071 crore and loan sanction of Rs 23,921 crore," it said.

Pradip Kumar Das, Chairman and Managing Director, IREDA, said the record-breaking loan disbursement and sanction reflect the company's commitment towards its mission of promoting and financing renewable energy projects in India.

IREDA, under the Ministry of New and Renewable Energy (MNRE), is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy.