IREDA Secures JPY 28 Bn from SMBC

New Delhi, Mar 30 (PTI) State-run Indian Renewable Energy Development Agency(IREDA) on Monday said it has entered into a facility agreement with Sumitomo Mitsui Banking Corporation (SMBC) to raise External Commercial Borrowing (ECB) amounting to JPY 28 billion.

The amount includes a greenshoe option of JPY 12 billion.

The proceeds will be utilised to support sustainable financing initiatives, the company said in a statement.


According to the statement, the five-year unsecured facility, 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.

Pradip Kumar Das, Chairman & Managing Director, IREDA said the transaction will strengthen IREDA's capacity to scale up lending operations in alignment with India's renewable energy and sustainable development goals.