State-owned Indian Renewable Energy Development Agency (IREDA) reported a 41% increase in loan disbursements, amounting to Rs 172.36 billion in the December quarter of FY24. Provisional figures reveal loan sanctions skyrocketed by 129% YoY to Rs 310.87 billion, compared to Rs 135.58 billion in Q3 FY23.

The outstanding loan book surged 36% to Rs 690 billion as of December 31, 2024, against Rs 505.8 billion a year ago, according to the company’s statement.

Pradip Kumar Das, Chairman and Managing Director of IREDA, highlighted the agency’s commitment to advancing India's renewable energy transition. "The 129% growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in supporting green energy projects," Das said.

IREDA's robust performance aligns with the nation's push for sustainable energy solutions, reinforcing its position as a key driver of India’s renewable energy ambitions.