IREDA’s gross Income jumps 17% to INR 2372 crore in FY 2019-20


At its Annual General Meeting (AGM) held recently, the Indian Renewable Energy Development Agency Ltd (IREDA), under the control of Ministry of New & Renewable Energy, disclosed its performance results for financial year 2019-20.

Pradip Kumar Das, chairman and managing director, IREDA, informed that the gross income of the company increased to INR 2,372.38 crore, registering a growth of 17.32%.

IREDA sanctioned loans worth INR 12,696 crore and disbursed INR 8,785 crore supporting capacity addition of 5673 MW as against 3266 MW in the previous year.

Speaking about future strategies, Das emphasized that green energy portfolio of the country is consistently growing in terms of both quantity and quality. It is expected to get a further boost with various policy initiatives of the Government, in areas such as farmland solar (through PM-KUSUM scheme), solar and wind hybrid technologies, biofuels such as ethanol and compressed bio gas (CBG), e-mobility and associated infrastructure, off-shore wind energy and solar rooftop programme.

He added that IREDA will continue its efforts with various international and multilateral lenders for new lines of credit to meet the resource needs of the renewable energy sector.