Indian Renewable Energy Development Agency Limited (IREDA) has signed a facility agreement with Sumitomo Mitsui Banking Corporation to raise external commercial borrowing amounting to JPY 28 billion. The arrangement includes a greenshoe option of up to JPY 12 billion. The funds will be used to support sustainable financing initiatives.
The facility has a tenure of five-years. It is unsecured, structured with a bullet repayment at maturity. Furthermore, the facility is positioned as a cost-efficient and resilient funding source.
Earlier in September 2025, IREDA approved a Rs 11.34 billion loan for Insolation Energy’s wholly owned subsidiary, Insolation Green Energy, which will be utilised for the development of a 4.5 GW solar cell manufacturing unit in Madhya Pradesh.
Furthermore, earlier in the same month, IREDA raised Rs 4.53 billion through its second issue of perpetual bonds at a rate of 7.70 per cent per annum.
