IREDA Inks Rs 4,445 Crore Loan Agreement With SJVN Green Energy For 1,000 MW Solar Power Project In Rajasthan

Indian Renewable Energy Development Agency Ltd. (IREDA) has signed loan agreement for Rs 4,444.71 crore with SJVN Green Energy, a subsidiary of SJVN Ltd, for a 1,000 megawatt (MW) solar power project at Rajasthan's Bikaner.

The IREDA funded project will connect to 400/220 KV substation Bikaner-II (near Bikaner).

Speaking on the occasion, CMD, IREDA said: "We are pleased to sanction IREDA’s highest loan amount to SGEL for development of 1,000 MW Solar project. We will be able to support Government of India to achieve its targets of 50 per cent share of energy from non-fossil fuels by 2030 through this kind of cooperation. Also, this partnership will encourage green investment and generate both direct and indirect employment opportunities.”

Established in 1987, IREDA promotes, develops and extends financial assistance for renewable energy and energy efficiency/conservation projects.