Applications & Installations

IREDA approves INR 4,445 crore loan to SJVN’s 1 GW solar project

The State-controlled renewable energy and energy efficiency lender has sanctioned its highest loan amount to SJVN Green Energy for development of 1 GW solar project in Rajasthan.
Uma Gupta
By
Uma Gupta
Image: Sushmita Balasubramani/Wikimedia Commons

Indian Renewable Energy Development Agency Ltd. (IREDA) has sanctioned an INR 4,444.71 crore ($537 million) loan to SJVN Green Energy (an arm of SJVN Ltd) for its 1 GW solar power project in Rajasthan. The two companies recently signed the loan agreement for the project, which will come up in Bikaner.

The IREDA funded project will connect to 400/220 KV substation near Bikaner.

SJVN bagged the project through the tender floated by IREDA under the second phase of the Central Public Sector Undertaking (CPSU) Scheme. It won the project by quoting a viability gap funding (VGF) requirement.

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