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IREDA Boosts Green Energy in India with Record Loan Approvals

2 Apr 2024

The Indian Renewable Energy Development Agency (IREDA), a key player in financing clean energy projects, has smashed its own record!

Here's a quick breakdown:

  • Loan Power Surge: IREDA sanctioned a whopping ₹37,354 crore ($4.7 billion) for green projects in the 2023-24 financial year, the highest ever.

  • Disbursement Dynamo: They disbursed ₹25,089 crore ($3.1 billion) in loans during the same period, fueling renewable energy growth.

  • Loan Book Boom: This impressive performance led to a robust 26.71% increase in their loan portfolio, which now stands at ₹59,650 crore ($7.5 billion).

Driving the Green Revolution:

IREDA Chairman Pradip Kumar Das is proud of their contribution: "IREDA's record loan sanctions and disbursements underscore our commitment to driving the renewable energy revolution in India."

Government Goals in Sight:

By supporting clean energy projects, IREDA is playing a vital role in helping India achieve its ambitious renewable energy targets.

Looking Ahead:

IREDA is determined to keep the momentum going and "amplify their impact" in the years to come.

This is a positive sign for India's clean energy future. With IREDA's continued support, renewable energy projects will have the financial backing they need to flourish!

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