Infrastructure
IREDA Inks Rs 4,445 Crore Loan Agreement With SJVN Green Energy For 1,000 MW Solar Power Project In Rajasthan
(Representative Image) (MONEY SHARMA/AFP/Getty Images)
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).
"SJVN has bagged the project through the tender floated by IREDA under the CPSU Phase-II (Tranche III) scheme for development of grid connected Solar PV Power project through competitive bidding process based on viability gap funding (VGF) support," the Ministry of New and Renewable Energy said in a statement on Thursday (15 December).
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.
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