Indian Renewable Energy Development Agency Limited has signed a Facility Agreement with Sumitomo Mitsui Banking Corporation to raise External Commercial Borrowing (ECB) worth JPY 28 billion, including a greenshoe option of JPY 12 billion, aimed at strengthening its sustainable financing initiatives.
The five-year unsecured facility is structured with a bullet repayment at maturity and is expected to enhance IREDA’s financial flexibility while expanding its presence in global financial markets. The funding is positioned as a cost-efficient and resilient capital source amid evolving geopolitical and economic conditions.
According to IREDA, the proceeds from the borrowing will be deployed to support renewable energy and sustainability-focused projects, in line with India’s clean energy transition goals.
Commenting on the development, Pradip Kumar Das, Chairman and Managing Director of IREDA, stated that the agreement represents a significant milestone in the organisation’s efforts to expand its global footprint. He added that the transaction would strengthen IREDA’s capacity to scale up lending operations and support the country’s renewable energy ambitions.
The agreement also reflects growing confidence among international financial institutions in IREDA’s financial strength, governance framework, and long-term growth outlook, as India continues to accelerate investments in the clean energy sector.
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