IREDA achieves historic annual performance in FY 2021-22
Highest -ever loan sanction of Rs. 23,921 crores with a growth of 117% compared to FY 2020-21
Highest-ever loan disbursement of Rs. 16,071 crores with a growth of 82% compared to FY 2020-21
Indian Renewable Energy Development Agency Ltd. (IREDA), the largest dedicated lender of the Renewable Energy in India ended FY 2021-22 with its best-ever performance till date. IREDA has achieved the highest-ever loan sanctions to the tune of around Rs. 23921.06 crores and loan disbursements of around Rs. 16070.82 crores. On this occasion, Shri Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA, addressed all the employees through his motivational interaction.
CMD, IREDA highlighted: “IREDA has achieved major milestones in 2021-22 even though the year saw second and third waves of the COVID-19 Pandemic along with the ongoing globally tense situations.
IREDA stands fully committed towards achieving the Hon’ble Prime Minister’s ‘Panchamrita’ COP26 targets which includes targeted utilisation of 50% of the country’s energy requirements through RE sources by 2030 and raising the non-fossil fuel-based energy capacity of India to 500 GW by the same time.
IREDA is fully equipped as an implementing agency for the additional allocation of Rs. 19,500 crores for PLI scheme to the manufacturers of high-efficiency solar modules announced in Budget Speech 2022 by the Union Finance Minister, Nirmala Sitharaman.”
The following are the main highlights (provisional) of IREDA’s performance in fiscal year 2021-22:
- Loan Sanctions: Highest ever Rs. 23,921 crores in FY 2021-22 from Rs. 11,001 crores in FY 2020-21 (up by 117%)
- Loan Disbursements: Highest ever Rs. 16,071 crores in FY 2021-22 from Rs. 8,827 crores in FY 2020-21 (up by 82%).
- NPAs:Net NPA reduced to 3.29% in FY 2021-22 from 5.61% in FY 2020-21 (reduction approx. 41%).
- Net worth:Increased to Rs. 4,989 crores ending FY 2021-22 from Rs. 2,995 crores ending FY 2020-21 (up by 67%).
- Loan Book:Increased to Rs. 34,000 crores ending FY 2021-22 from Rs. 27,854 crores ending FY 2020-21 (up by approx. 22%).
On this occasion, CMD, IREDA conveyed his sincere gratitude to the PMO, CCEA, Govt of India, MNRE, NITI Aayog and MoF for constantly guiding IREDA and extending its support at every juncture, especially for realising the awaited equity infusion.
He also conveyed his best wishes and thanks to the entire Team IREDA for their untiring efforts, patience, and dedication to engrave record achievements. IREDA is looking forward to an even higher delivery on its mandate in the year 2022-23 as the company has registered continuous improvement in quarterly financial results during last two years.
Shri Das also reiterated that, “IREDA promotes transparency, good-governance, and a proactive approach across and work. The success of a company is built on the efforts of its employees. It is time to mutually work with innovations, collaborations, and market dynamics to ensure business expansion, diversification, and sustainable growth.
Our combined strength is what makes us successful. Let’s start the upcoming new year with a focused, customised, and committed plan of action for serving our customers with a greater vision of clean and green energy. We wish to ensure that the entire value chain in the operations of IREDA is happy and proudly sustains the feeling of ‘Once IREDA, Always IREDA’.”