IREDA Presents Dividend Cheque to Dr. Farooq Abdullah

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INVC,,

Delhi,,

Debashish Majumdar, Chairman and Managing Director, Indian Renewable Energy Development Agency (IREDA), has presented a cheque of Rs.14.54 crore towards dividend for the financial year 2009-10 to Dr. Farooq Abdullah, Union Minister for New & Renewable Energy, here today. The dividend payment to the Government of India by IREDA has increased by 29.24% as compared to the last year. The dividend cheque was presented in the presence of Shri Deepak Gupta, Secretary, MNRE.

During the year 2009-10, IREDA registered creditable success and excellence in all facets of its activities. IREDA has posted a robust all-round performance with an all-time high Profit Before Tax (PBT) at Rs. 141.05 crore registering a 64.20% rise over the previous fiscal, and earning a Profit After Tax (PAT) of Rs.72.69 crore. Loan sanctions and disbursements during the year stood at Rs.1823.91 crore and Rs.890.03 crore as compared to Rs.1489.93 crore and Rs.770.95 crore in the last fiscal.

The principal sectors which are being funded by IREDA are Wind, Small Hydro, Co-generation, Biomass Power and Solar Thermal. The cumulative commissioned renewable power generation capacity addition, as on 31st March 2010, on account of IREDA’s lending operations stood at 2360 MW.

The Chairman and Managing Director, Indian Renewable Energy Development Agency (IREDA), Shri Debashish Majumdar presenting a dividend cheque to the Union Minister for New & Renewable Energy, Dr. Farooq Abdullah, in New Delhi on October 18, 2010.
The Chairman and Managing Director, Indian Renewable Energy Development Agency (IREDA), Shri Debashish Majumdar presenting a dividend cheque to the Union Minister for New & Renewable Energy, Dr. Farooq Abdullah, in New Delhi on October 18, 2010.

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