IREDA inks Rs. 4,445 crore loan agreement with SJVN Green Energy Ltd. for 1,000 MW solar power project

New Delhi, December 15, 2022

Indian Renewable Energy Development Agency Ltd. (IREDA) signed a loan agreement for Rs. 4,444.71 crore with SJVN Green Energy Ltd. (SGEL), a subsidiary of SJVN Ltd., today for a 1,000 MW solar power project at Bikaner, Rajasthan.

The IREDA-funded project will connect to 400/220 KV substation Bikaner-II (near Bikaner), an official press release said.

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 VGF support.

Pradip Kumar Das, 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% 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.”

In the presence of Das and Nand Lal Sharma, CMD, SJVN, the loan agreement was signed by Pradipta Kumar Roy, DGM, IREDA and S. L. Sharma, CEO, SGEL signed the loan agreement.

NNN