The board of Indian Renewable Energy Development Agency (IREDA) has sanctioned a borrowing plan amounting to Rs 242 billion for the fiscal year 2024-25. The borrowing endeavour incorporates diverse methods of acquiring funds, highlighting IREDA’s strategic approach to financing renewable energy projects in India.
Term loans from domestic banks and financial institutions, lines of credit from international agencies, public and private placement of tax-free bonds, green masala bonds, green foreign currency bonds, subordinated tier-Il bonds, perpetual debt instruments, and foreign currency bonds are just a few of the various instruments included in the borrowing plan. Additionally, it will comprise foreign currency non-resident bank loans, cash credit facilities, commercial papers, short-term loans, capital gains bonds, and working capital demand loans from banks. Additionally, it will include external commercial borrowings from both domestic and international financial markets.
Separately, IREDA has achieved its highest-ever annual loan sanctions and disbursements in 2023-24. The company has sanctioned loans amounting to Rs 373.54 billion and disbursed loans worth Rs 250.89 billion during the fiscal year. This has led to a significant growth of 26.71 per cent in the loan book, which now stands at Rs 596.50 billion.
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