IREDA Secures ₹2,941 Crore Loan for 969 MW Solar Project in Maharashtra
What happened
Indian Renewable Energy Development Agency Limited provided a rupee term loan facility of up to ₹2,941.19 crore to NOPL Solar Projects Private Limited, a subsidiary of Vikran Engineering Limited. This financing supports a 969 MWac / 1,163 MWp solar photovoltaic power project, which has an overall estimated cost of ₹4,201.70 crore. Vikran Engineering Limited was awarded the Engineering, Procurement, and Construction contract for the project, valued at ₹3,517.98 crore.
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Why it matters
The financing finalizes the funding setup for a major solar project being developed across 152 locations in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 Scheme. This facility marks a significant operational milestone for the project's execution and contributes to the state's energy infrastructure goals.
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Who's involved
- Indian Renewable Energy Development Agency LimitedProvided the rupee term loan facility to NOPL Solar Projects Private Limited.
- MaharashtraThe state where the 969 MW solar project is being developed across 152 locations.
- state governmentThe government responsible for the state's energy infrastructure and economic goals.
- Ministry of New and Renewable EnergyThe Ministry of Government of India under which Indian Renewable Energy Development Agency Limited operates.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
The agency's loan portfolio and assets might increase due to the provision of the large debt facility.
- MaharashtraSpeculative
The state's energy infrastructure and economic development goals could benefit from the 969 MW solar project.
- state governmentSpeculative
The state government might see changes in energy supply or infrastructure costs as the project moves toward execution.
Keep exploring
The entities involved
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Indian Renewable Energy Development Agency Limited
Indian government enterprise
Nothing else this week.
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Maharashtra
state in the western and central peninsular region of India