IREDA and SJVN Green Energy sign a loan agreement for Rs 44.45 billion
POWER & RENEWABLE ENERGY

IREDA and SJVN Green Energy sign a loan agreement for Rs 44.45 billion

Indian Renewable Energy Development Agency (IREDA) and SJVN Green Energy inked a record financing agreement for Rs. 44.44 billion for a 1,000 MW solar power plant in Bikaner, Rajasthan.

The IREDA-funded project will link to Bikaner-400/220 II's KV substation (near Bikaner). Through a competitive bidding process based on VGF support, SJVN won the project through the CPSU Phase-II (Tranche III) Scheme tender published by IREDA for the development of Grid Connected Solar PV Power Project.

Through this kind of collaboration, IREDA will be able to assist the Indian government in reaching its goal of obtaining 50 per cent of its energy from non-fossil sources by the year 2030. Additionally, this collaboration will promote green investment and provide both direct and indirect job possibilities.

At the IREDA corporate headquarters, Pradipta Kumar Roy, DGM (IREDA), and S L Sharma, CEO (SGEL), signed the loan agreement with Pradip Kumar Das, CMD, IREDA, and Nand Lal Sharma, CMD, SJVN. Senior government officials including Dr R C Sharma, CFO, Debjani Bhatia, GM (TS), and Chintan Shah, Director (Technical), IREDA, also attended the event.

Also read:
India plans to commission 20 N-power plants by 2031
L&T wins orders from Vedanta for its hydrocarbon business


Indian Renewable Energy Development Agency (IREDA) and SJVN Green Energy inked a record financing agreement for Rs. 44.44 billion for a 1,000 MW solar power plant in Bikaner, Rajasthan. The IREDA-funded project will link to Bikaner-400/220 II's KV substation (near Bikaner). Through a competitive bidding process based on VGF support, SJVN won the project through the CPSU Phase-II (Tranche III) Scheme tender published by IREDA for the development of Grid Connected Solar PV Power Project. Through this kind of collaboration, IREDA will be able to assist the Indian government in reaching its goal of obtaining 50 per cent of its energy from non-fossil sources by the year 2030. Additionally, this collaboration will promote green investment and provide both direct and indirect job possibilities. At the IREDA corporate headquarters, Pradipta Kumar Roy, DGM (IREDA), and S L Sharma, CEO (SGEL), signed the loan agreement with Pradip Kumar Das, CMD, IREDA, and Nand Lal Sharma, CMD, SJVN. Senior government officials including Dr R C Sharma, CFO, Debjani Bhatia, GM (TS), and Chintan Shah, Director (Technical), IREDA, also attended the event. Also read: India plans to commission 20 N-power plants by 2031L&T wins orders from Vedanta for its hydrocarbon business

Next Story
Real Estate

Emaar to invest Rs 1,000 crore in Gurugram housing project

Emaar India, a prominent real estate developer, has announced a major new project in Gurugram, one of the most sought-after residential locations in the National Capital Region (NCR). The company is investing approximately Rs 1,000 crore in the development of a luxury housing project named ‘Amaris.’ The project, situated on Golf Course Extension Road in Gurugram’s Sector 62, will span over 6.2 acres and is expected to feature 522 high-end apartments, with a total development potential of 15 lakh square feet. This project, launched in response to the growing demand for premium residentia..

Next Story
Infrastructure Urban

Punjab-Haryana HC slams ED over IREO money laundering investigation

The Punjab and Haryana High Court criticised the Enforcement Directorate (ED) for conducting a ‘slipshod and unprofessional’ investigation into money laundering cases involving IREO and its functionaries. The court directed the ED's director to address the lapses in the probe. The court noted that the accused company's real estate assets were allowed to be disposed of without proper oversight. Justice Kuldeep Tiwari issued these directives after being informed of a November 6 order by a coordinate bench, in which Gulshan Babbar sought the cancellation of bail granted to IREO MD Lalit Goya..

Next Story
Infrastructure Urban

Capitaland to buy 40% stake in SC Capital Partners for $209.31 mn

Singapore's CapitaLand Investment announced that it plans to acquire a 40 per cent stake in SC Capital Partners Group (SCCP) for $280 million. Additionally, the company intends to invest at least $524 million in SCCP. The acquisition of the 40 per cent stake in SCCP, a Singapore-based real estate investment manager, is expected to increase CapitaLand's funds under management (FUM) by $11 billion. The company explained that this move would strengthen its presence in Japan, its key market, where 76 per cent of the additional $11 billion FUM is located. In its statement, CapitaLand emphasised t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000