Indian Renewable Energy Development Agency Limited (IREDA) has secured a loan facility from the State Bank of India (SBI) Tokyo amounting to approximately $172 million.
This includes a greenshoe option of around $66.2 million through external commercial borrowings. The loan is structured as a five-year unsecured facility with a bullet repayment at maturity. Reportedly, the landed cost after hedging is expected to remain below 7 per cent. The funds raised through this facility will be utilised to diversify IREDA’s resource base and optimise borrowing costs, thereby strengthening its financial position.
