IREDA secures JPY 26 billion ECB facility from SBI Tokyo

Indian Renewable Energy Development Agency Limited (IREDA) has signed a Facility Agreement today for raising External Commercial Borrowing (ECB) from SBI, Tokyo Branch for JPY 26 billion, including a Green Shoe Option of JPY 10 billion.

This five-year unsecured facility’s landed cost (after hedging) is expected to be below 7%, making it more cost-effective than similar-tenure loans in the domestic market.

Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, stated, “This facility enables us to diversify our resource base and optimize costs, enhancing our lending operations to support India’s renewable energy sector.”

IREDA currently has an international credit rating of ‘BBB-‘ long-term and ‘A-3’ short-term with Outlook ‘Stable’ from S&P Global.

Also read: IREDA raises ₹910.37 crore via Tier-II bonds