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

19 Dec 2022 CW Team

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

The IREDA-funded project will link to Bikaner-400/220 II's KV substation (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 assist the Indian government in reaching its goal of obtaining 50 per cent of its energy from non-fossil sources by the year 2030. Additionally, this collaboration will promote green investment and provide both direct and indirect job possibilities.

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

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