IREDA inks Rs 44.45 billion loan agreement with SJVN Green Energy for 1,000 MW solar power project

Indian Renewable Energy Development Agency Limited (IREDA) has signed a loan agreement for Rs 44.45 billion with SJVN Green Energy Limited (SGEL), a subsidiary of SJVN Limited, for development of a 1,000 MW solar power project at Bikaner, Rajasthan.

SJVN has bagged the project through a tender floated by IREDA under the central public sector undertaking (CPSU) Phase-II (Tranche III) scheme for development of grid connected solar photovoltaic (PV) power project through competitive bidding process based on viability gap funding (VGF) support. The project will connect to 400/220 KV substation Bikaner-II. This partnership will encourage green investment.