Ireda News: Ireda sanctions highest ever loan of around Rs 24k cr in 2021-22

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India’s state-run renewable energy development agency recorded its highest ever loan sanction of Rs 2,3921.06 crore and disbursement of around Rs 16,070.82 crore in 2021-2022. “Indian Renewable Energy Development Agency Ltd (IREDA), the largest dedicated renewable energy lender in India, ended the 2021-22 financial year with its best performance yet. IREDA secured the highest loan sanctions ever of approximately Rs 23,921.06 crore and loan disbursements of approximately Rs 16,070.82 crore,” a statement from the company read.

Ireda’s Chairman and Managing Director, Pradip Kumar Das, in his interaction with employees, pointed out that Ireda has achieved significant milestones in 2021-22, even though the year saw the second and third waves of the pandemic. of COVID-19 as well as tense situations globally.

Ireda is fully equipped as the executing agency for the additional allocation of Rs 19,500 Crore for the PLI (Production Linked Incentive) scheme for high-efficiency solar module manufacturers announced in the 2022 budget.

The company’s loan penalties were the highest on record at Rs 23,921 crore in the 2021-22 financial year, up 117% from Rs 11,001 crore in the 2020-21 financial year.

Similarly, loan disbursements hit an all-time high of Rs 16,071 crore in FY 2021-22, 82% higher than Rs 8,827 crore in FY 2020-21.

Net NPA decreased by approximately 41% to 3.29% in FY 2021-22 from 5.61% in FY 2020-21.

Net worth increased by 67% to Rs 4,989 crore in FY 2021-22 from Rs 2,995 crore in FY 2020-21.

The loan portfolio grew by around 22% to Rs 34,000 crore in FY 2021-22 from Rs 27,854 crore in FY 2020-21.

The company has supported the installation of RE (renewable energy) capacity of 29.48 GW until March 2022, or about 28% of the installed RE capacity in India (106.37 GW until March 2022). February 2022).

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