IREDA's Subsidiary IGGEFIL Sanctions Its First International Green Energy Loan

IREDA Global Green Energy Finance IFSC Ltd. (IGGEFIL), the wholly owned subsidiary of Indian Renewable Energy Development Agency Ltd. (IREDA), today approved the sanction of its first loan during the Board meeting held in New Delhi. The milestone sanction of USD 22.5 million has been extended to Swarna Solar Limited (SSL) for developing a 100 MW Photovoltaic Solar Power Plant in the Serenje District of the Central Province of Zambia.

This first loan sanction marks a significant step for IGGEFIL as it begins to expand India's green financing footprint into international markets and support sustainable energy development globally.

Speaking on the occasion, Shri Pradip Kumar Das, CMD, IREDA and Chairman, IGGEFIL, said: "This first loan sanction by IGGEFIL is a landmark for IREDA to emerge as a global catalyst for clean energy financing. Through our presence at GIFT City, we are leveraging competitive international capital to enable renewable energy development not only in India but also across the world. Supporting this solar project in Zambia reflects our commitment to fostering sustainable growth beyond national boundaries, aligned with Govt. of India's vision of global renewable energy leadership."

Shares of Indian Renewable Energy Development Agency Limited was last trading in BSE at Rs. 136.30 as compared to the previous close of Rs. 138.15. The total number of shares traded during the day was 996423 in over 10598 trades.

The stock hit an intraday high of Rs. 139.50 and intraday low of 135.60. The net turnover during the day was Rs. 137162405.00.

Source : Equity Bulls

Keywords

IndianRenewableEnergyDevelopmentAgency IREDA INE202E01016 FinancialInstitution IREDAGlobalGreenEnergyFinanceIFSC