New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) has entered into a Facility Agreement with Sumitomo Mitsui Banking Corporation (SMBC) to raise External Commercial Borrowing (ECB) amounting to JPY 28 billion, including a greenshoe option of JPY 12 billion. The proceeds will be utilised to support sustainable financing initiatives.
The five-year unsecured facility, structured with a bullet repayment at maturity, is expected to further strengthen IREDA’s resource base while enhancing its presence in international financial markets. The facility is positioned as a cost-efficient and resilient funding source, particularly in the context of evolving global geopolitical dynamics.
Commenting on the development, Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, said the facility marks a significant step in expanding the organisation’s global footprint. He noted that the transaction will strengthen IREDA’s capacity to scale up lending operations in alignment with India’s renewable energy and sustainable development goals. He added that the agreement reflects the strong confidence of leading global financial institutions in IREDA’s financial strength, governance standards and growth prospects.
