IDFC lends Rs 6.75 billion to Solairedirect Energy

The Infrastructure Development Finance Company (IDFC) has lent Rs 6.75 billion in a 70:30 debt-equity ratio to a solar project in Rajasthan owned by Solairedirect Energy, India. The project is being developed at Bhadla in Rajasthan under the Jawaharlal Nehru National Solar Mission (JNNSM). A special purpose vehicle, Solaire Urja Private Limited, was formed to channelise the loan from IDFC. The time frame for loan repayment is 18 years and the company will pay 11 per cent interest during the construction period and 10.5 per cent interest after the start of commercial operations.

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