Will exceed Rs 3.6K-cr loan disbursement this fiscal: IREDA

State-run Indian Renewable Energy Development Agency (IREDA) has expressed confidence about "exceeding" loan disbursement target of Rs 3,600 crore this fiscal even as its tax-free bond issue of Rs 1,000 crore is opening on Friday.

"We will exceed the Rs 3,600 crore loan disbursement target this fiscal which is higher than Rs 2,600 crore for 2014-15. We have already achieved 50 per cent of the target so far," IREDA Chairman and Managing Director K S Popli said. IREDA's tax-free bond issue of Rs 1,000 crore (base issue size) will open on Friday and close on January 22. The issue is with an option to retail over-subscription up to Rs 1,716 crore. Popli said, "We have already raised Rs 284 crore through bonds during this fiscal. We had increased the loan disbursement target by 40 per cent for this fiscal compared to 2014-15 under our MoU with the government. We are expecting similar increase for 2016-17 in view of government' focus on renewable energy sector." 

Popli informed that during the next fiscal, government has planned to add 12,000 mw of solar power capacity which will be huge opportunity for all players.