IREDA arm sanctions first overseas green energy loan

Indian Renewable Energy Development Agency Limited (IREDA) has announced that its wholly owned subsidiary, IREDA Global Green Energy Finance IFSC Limited (IGGEFIL), has sanctioned its first international green energy loan. The $22.5 million facility will support a 100 MW photovoltaic solar power project in Serenje District, Zambia.

IREDA informed the stock exchanges through a regulatory filing dated 16 January 2026. The loan was approved at a Board meeting of IGGEFIL held in New Delhi and has been extended to Swarna Solar Limited (SSL) for the Zambian project.

In an accompanying press release, Pradip Kumar Das, Chairman and Managing Director of IREDA and Chairman of IGGEFIL, said the sanction marks a significant step in IREDA’s international engagement. He stated that IGGEFIL, operating from Gujarat International Finance Tec-City (GIFT City), is using access to international capital to finance renewable energy projects outside India, in line with the Government of India’s broader clean energy objectives.

The loan represents IGGEFIL’s first operational transaction in overseas markets and signals the expansion of India-backed green financing into international renewable energy projects.