Indian Railway Finance Corporation (IRFC), the dedicated funding arm of Indian Railways, is expanding into the renewable energy sector as part of its strategy to finance industries linked to rail operations. The company secured a bid to extend a rupee term loan of Rs 75 billion to NTPC Green Energy Limited. Additionally, it is also lending Rs 31 billion to a thermal power generation subsidiary of NTPC.
IRFC has also partnered with Railway Energy Management Company Limited to finance renewable energy projects awarded for supplying power to the railways. Furthermore, the company is actively exploring opportunities to fund renewable energy requirements for metro rail projects.
With these initiatives, IRFC joins a group of public sector financial institutions, including Power Finance Corporation, REC Limited, and the Indian Renewable Energy Development Agency, in supporting the renewable energy sector.