IGGEFIL's Landmark Loan for Zambian Solar Project
Ireda Global Green Energy Finance IFSC Ltd is set to provide a USD 22.5 million green loan to Swarna Solar for a 100 MW solar project in Zambia. This marks IGGEFIL's first international loan, reflecting IREDA's commitment to global clean energy financing.
- Country:
- India
Ireda Global Green Energy Finance IFSC Ltd (IGGEFIL) announced a monumental step in its international endeavors by sanctioning a green loan of USD 22.5 million to Swarna Solar. This funding aims to develop a 100 MW photovoltaic solar power plant in Zambia's Central Province, marking IGGEFIL's first international loan endeavor.
The wholly-owned subsidiary of the Indian Renewable Energy Development Agency Ltd (Ireda) made this decision during its board meeting in New Delhi. Ireda's CMD Pradip Kumar Das emphasized that this initiative represents a significant achievement for the agency, positioning it as a global force in clean energy financing.
Operating under India's Ministry of New and Renewable Energy, Ireda continues its mission to promote renewable energy solutions. By leveraging financial opportunities through GIFT City, Ireda aims to foster renewable energy development worldwide, extending its impact beyond India's borders.
(With inputs from agencies.)
ALSO READ
EU Commits €35.8 Million to Accelerate Tunisia’s Renewable Energy Transition and Grid Modernisation
Zambia Moves to Ratify Global Social Security Standard to Modernise Pensions and Protect Informal Workers
Bioenergy: Driving India's Clean Energy Revolution in MSMEs
EIB and Iberdrola Launch €175M Hybrid Wind–Hydro Project to Power Portugal’s Clean Energy Backbone
Green Future: Andhra Pradesh's Milestone in Clean Energy
Google News