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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