Indian Renewable Energy Development Agency Limited — Updates, 27-03-2025: Press Release

Indian Renewable Energy Development Agency Limited (IREDA) has secured a five-year External Commercial Borrowing (ECB) facility of JPY 26 billion from SBI's Tokyo Branch, which includes a Green Shoe Option of JPY 10 billion. This facility, with a bullet payment at maturity and a post-hedging cost expected to be below 7%, positions IREDA advantageously compared to similar loans available in the domestic market. The agreement enhances IREDA's capacity to facilitate lending in India's renewable energy sector by diversifying funding sources and optimizing costs. The Chairman & Managing Director of IREDA highlighted that this reflects global investors' strong confidence in the agency's financial stability and growth potential. With an international credit rating of ‘BBB-' long-term and 'A-3' short-term from S&P Global, IREDA’s commitment to high corporate governance standards further bolsters its credibility in the international arena. This transaction presents a positive outlook for IREDA's operational capabilities in the renewable energy market.