The Indian Renewable Energy Development Agency (IREDA) has approved a Rs 11.34 billion loan for Insolation Energy’s wholly owned subsidiary, Insolation Green Energy. The loan will be utilised for the development of a 4.5 GW solar cell manufacturing unit in Madhya Pradesh.
Furthermore, the total cost of this project is estimated to be around Rs 15.12 billion, of which IREDA has approved Rs 11.34 billion. The remaining amount of Rs 3.78 billion will be met from internal accruals.
Earlier this month, IREDA raised Rs 4.53 billion through its second issue of perpetual bonds at a rate of 7.70 per cent per annum.
Furthermore, in June 2025, IREDA raised Rs 20.06 billion through a qualified institutions placement by issuing 121.5 million equity shares to strengthen green financing capacity.
