Sahaj Solar Limited — Important, 19-12-2024: Agreements

Sahaj Solar Limited has executed a Medium Term Loan agreement for ₹100 Crore with the Indian Renewable Energy Development Agency Limited (IREDA). The funds will support the installation of 11,900 solar pumps under the PM KUSUM COMPONENT-B, C & 41-Off Grid SPV Plant Projects across Gujarat, Haryana, Tripura, Uttar Pradesh, and Assam. The loan includes significant terms such as an 18-month tenure, an interest rate of 11.35%, and specific repayment terms structured over 12 months starting from June 2025. The agreement entails collateral provisions, including bank guarantees and hypothecation of current assets. This financing marks a strategic move to enhance the company’s project execution capabilities, aligning with India's renewable energy goals, and could indicate a positive outlook for growth.