IREDA and SJVN Green Energy sign a loan agreement for Rs 44.45 billion

Indian Renewable Energy Development Agency (IREDA) and SJVN Green Energy signed a record financing deal for Rs. 44.44 billion for a 1,000 MW solar power plant in Bikaner, Rajasthan.

The project funded by IREDA will be connected to the KV substation of Bikaner-400/220 II (near Bikaner). Through a competitive bidding process based on VGF support, SJVN won the project through the CPSU Phase-II (Tranche III) Scheme tender published by IREDA for the development of Grid Connected Solar PV Power Project.

Through this kind of collaboration, IREDA will be able to help the Indian government achieve its goal of obtaining 50 percent of its energy from non-fossil sources by the year 2030. In addition, this cooperation will promote green investments and both direct and indirect employment opportunities.

At IREDA headquarters, Pradipta Kumar Roy, DGM (IREDA) and SL Sharma, CEO (SGEL), signed the loan agreement with Pradip Kumar Das, CMD, IREDA, and Nand Lal Sharma, CMD, SJVN. Senior government officials including Dr RC Sharma, CFO, Debjani Bhatia, GM (TS) and Chintan Shah, Director (Technical), IREDA also attended the event.