New Delhi, 17 (PTI) Ireda Global Green Energy Finance IFSC Ltd will provide a green loan of USD 22.5 million to Swarna Solar for the development of a 100 MW clean energy project in Zambia, a statement said on Saturday.
Ireda Global Green Energy Finance IFSC Ltd (IGGEFIL) is a wholly-owned subsidiary of state-owned Indian Renewable Energy Development Agency Ltd (Ireda).
IGGEFIL approved its first international loan during the board meeting held in New Delhi on Friday, its parent Ireda said in THE statement.
“The milestone sanction of USD 22.5 million has been extended to Swarna Solar Limited (SSL) for developing a 100 MW Photovoltaic Solar Power Plant in the Serenje District of the Central Province of Zambia,” it added.
Ireda CMD Pradip Kumar Das said: “This first loan sanction by IGGEFIL is a landmark for IREDA to emerge as a global catalyst for clean energy financing. Through our presence at GIFT City, we are leveraging competitive international capital to enable renewable energy development not only in India but also across the world”.
Under the Ministry of New and Renewable Energy (MNRE), Ireda is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of power and energy efficiency/conservation. PTI ABI BAL BAL
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.