IRFC Signs Rs. 42 bn Loan Agreement with DVC for Renewable Energy Projects
POWER & RENEWABLE ENERGY

IRFC Signs Rs. 42 bn Loan Agreement with DVC for Renewable Energy Projects

Indian Railway Finance Corporation (IRFC), a Navratna Central Public Sector Enterprise under the Ministry of Railways, has signed a Rs. 42 bn term loan agreement with Damodar Valley Corporation (DVC) to finance renewable energy projects in Jharkhand and West Bengal.

The agreement was signed in New Delhi in the presence of senior officials from both organisations. DVC was represented by Manish Kumar, Member (Finance), while IRFC was represented by Manoj Kumar Dubey, Chairman and Managing Director.

The financing will support DVC’s floating solar, ground-mounted solar and rooftop solar projects, along with Battery Energy Storage System (BESS) projects. The projects will use DVC’s existing land, reservoirs and transmission infrastructure.

According to an official statement, the transaction extends IRFC’s long-term financing capabilities into the renewable energy sector while retaining its connection with the railway ecosystem. The company’s financing portfolio also covers power, metro rail, logistics and other infrastructure sectors.

Dubey said renewable energy was central to Indian Railways’ target of achieving net zero carbon emissions by 2030. He described the transaction as part of IRFC’s strategic diversification into railway-linked infrastructure, adding that the company was bringing its core long-term financing capabilities to clean energy and sustainable infrastructure.

The statement said the DVC transaction demonstrated IRFC’s ability to mobilise long-term capital for nationally important infrastructure. It added that the partnership would support renewable energy infrastructure linked to the Railways’ growing energy requirements while contributing to India’s broader sustainability objectives.

Indian Railway Finance Corporation (IRFC), a Navratna Central Public Sector Enterprise under the Ministry of Railways, has signed a Rs. 42 bn term loan agreement with Damodar Valley Corporation (DVC) to finance renewable energy projects in Jharkhand and West Bengal. The agreement was signed in New Delhi in the presence of senior officials from both organisations. DVC was represented by Manish Kumar, Member (Finance), while IRFC was represented by Manoj Kumar Dubey, Chairman and Managing Director. The financing will support DVC’s floating solar, ground-mounted solar and rooftop solar projects, along with Battery Energy Storage System (BESS) projects. The projects will use DVC’s existing land, reservoirs and transmission infrastructure. According to an official statement, the transaction extends IRFC’s long-term financing capabilities into the renewable energy sector while retaining its connection with the railway ecosystem. The company’s financing portfolio also covers power, metro rail, logistics and other infrastructure sectors. Dubey said renewable energy was central to Indian Railways’ target of achieving net zero carbon emissions by 2030. He described the transaction as part of IRFC’s strategic diversification into railway-linked infrastructure, adding that the company was bringing its core long-term financing capabilities to clean energy and sustainable infrastructure. The statement said the DVC transaction demonstrated IRFC’s ability to mobilise long-term capital for nationally important infrastructure. It added that the partnership would support renewable energy infrastructure linked to the Railways’ growing energy requirements while contributing to India’s broader sustainability objectives.

Related Stories

Gold Stories

Next Story
Real Estate

Landmark Group plans Rs 150 billion NCR expansion

Landmark Group has announced expansion plans across two real estate projects in the National Capital Region (NCR), with a combined estimated sales potential of Rs 150 billion. The projects include Landmark One, a 2.1 million sq ft corporate office development on Golf Course Extension Road in Gurugram, and a proposed integrated hospitality, commercial and residential development on Dwarka Expressway.Landmark One has an estimated sales value of Rs 40 billion. The project involves an estimated construction investment of Rs 10 billion, apart from the underlying land, currently valued at around Rs ..

Next Story
Real Estate

RMZ entities secure 5-Star ratings in GRESB 2026

RMZ has been recognised as a Global and Regional Sector Leader in the 2026 Global Real Estate Sustainability Benchmark (GRESB) Real Estate Development Assessment, with three of its entities scoring 99.6 out of 100. RMZ Nexus LLP, Millenia Realtors Private Limited and Infralogix LLP secured 5-Star ratings in their respective categories across the Office and Industrial sectors.In the 2026 Development Benchmark, RMZ Nexus LLP and Millenia Realtors Private Limited were named Sector Leaders in the Office and Office Non-Listed categories in Asia. Infralogix LLP received the distinction in the Indust..

Next Story
Products

Schneider Electric deploys smart building systems at Jupiter Hospitals

Schneider Electric has partnered with Jupiter Hospitals to deploy connected building technologies aimed at improving energy efficiency, patient comfort and operational performance across its hospital campus. The deployment of its EcoStruxure Building Operation platform and SpaceLogic thermostats is helping the hospital achieve energy savings of up to 28 per cent, according to the company.With heating, ventilation and air-conditioning (HVAC) systems accounting for nearly 60 per cent of the hospital's total energy consumption, improving efficiency while maintaining the conditions required for pa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code