IREDA Seeks Bids to Raise $113 mn for Renewable Energy Project Funding

20 Sep 2024 CW Team

The Indian Renewable Energy Development Agency (IREDA) has invited bids from banks and financial institutions to raise term loans totalling approximately $113.3 million, with an additional greenshoe option. The deadline for submitting bids is October 9, 2024.

IREDA is seeking to raise funds to finance renewable energy, energy efficiency, conservation projects, and renewable energy-related services in India. The loan will have a tenure of five years, with bullet repayment and a floating interest rate linked to the Tona interest rate, which can be paid semi-annually.

The selection of the lowest bidder will be based on least cost-based selection criteria, with the total cost calculated according to IREDA's evaluation. In the event that two or more bidders propose the same cost, the bidder offering the smallest margin above the interest rate benchmark will be selected.

The invitation to bid is open to all banks and financial institutions that have extended foreign currency loans in Japanese Yen to central public sector enterprises functioning as non-banking financial companies in the past five years. Bidders are required to comply with the regulations set by the Financial Action Task Force and the Office of Foreign Assets Control.

The eligibility criteria apply solely to the bidding bank or financial institution and do not extend to the ultimate lender in cases of downselling. IREDA will raise the loan on an unsecured basis, relying only on its financial strength.

Bidders must agree to a limit on total network borrowings and must also meet the minimum capital adequacy ratio and liquidity coverage ratio requirements set by the Reserve Bank of India.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..