IREDA pays Rs 11.25 cr dividend

New Delhi, Oct 22 : Indian Renewable Energy Development Agency Limited (IREDA), a Public Sector Enterprise under the Ministry of New and Renewable Energy(MNRE), today presented a dividend of Rs 11.25 crore for the financial year 2008-09 to the government.

The dividend cheque was presented to the Minister for New and Renewable Energy Dr Farooq Abdullah by CMD, IREDA, Debashish Majumdar at a function held here. Congratulating the PSU on its achievement, Dr Abdullah said he was happy to note that it had registered the dividend in double digits for the first time. During the year 2008-09, IREDA's performance has been rated as 'Excellent' in terms of MoU signed with the Government of India.IRED'A sanctioned 47 projects involving loan commitment of Rs 1489.93 crore registering an impressive growth of 80.35 per cent. IREDA disbursed a sum of Rs 770.95 crore during the year registering a growth of 39.25 per cent. Cumulatively, it has sanctioned 1,892 projects involving loan commitment of Rs 10,355.58 crore and cumulative disbursement of Rs 5,754.05 crore till March 31, 2009. The loan sanctioned during the year 2008-09 will result in establishment of additional renewable power generation capacity of about 403.75 MW. IREDA is poised for further growth reflecting the need for increased power generation through Renewable Energy Sources in line with the National Action Plan on Climate Change.