By: ICN Bureau
Last updated : March 28, 2025 11:45 am
he landed cost (after hedging) is expected to be below 7%, making it more cost-effective than similar-tenure loans in the domestic market
Indian Renewable Energy Development Agency Limited (IREDA) has signed a Facility Agreement for raising External Commercial Borrowing (ECB) from SBI, Tokyo Branch for JPY 26 billion, including a Green Shoe Option of JPY 10 billion.
This five-year unsecured facility, with bullet payment at maturity, is set to strengthen IREDA’s global market presence. The landed cost (after hedging) is expected to be below 7%, making it more cost-effective than similar-tenure loans in the domestic market.
Commenting on the agreement, Pradip Kumar Das, Chairman & Managing Director, IREDA said, “This facility enables us to diversify our resource base and optimize costs, enhancing our lending operations to support India’s renewable energy sector. The transaction reflects the strong confidence of global investors in IREDA’s financial stability and growth potential.”
IREDA continues to enjoy an international credit rating of ‘BBB-' long-term and 'A-3' short-term with Outlook ‘Stable’ from S&P Global, underscoring its highest standards of corporate governance and credibility in international markets.