IREDA sanctions ₹1,134 Crore loan to subsidiary

18 Sep 2025 , 03:00 PM

Indian Renewable Energy Development Agency Limited (IREDA) informed the bourses and shareholders that it has sanctioned a loan of ₹1,134 Crore to its wholly-owned subsidiary Insolation Green Energy. The funds provided will finance the setting up of a 4.5 GW solar cell manufacturing facility to be operated in Madhya Pradesh.

At around closing, IREDA was trading 0.93% higher at ₹155.40, against the previous close of ₹153.97 on NSE. The counter touched an intraday high of ₹159.29.

As per the company, the total cost of the stated project is ₹1,152 Crore. Out of this, IREDA will fund ₹1,134 Crore. The balance amount of ₹378 Crore will be obtained from the company’s internal accruals.

The company also informed that the new plant will be situated in the Manufacturing Zone for Power and Renewable in Narmadapuram district. The company also announced that the facility will be a part of its broader plan for backward and forward integration across the solar value chain.

With this new addition, the group will have a cumulative capacity of 7 GW PV module manufacturing, along with 4.5 GW of solar cell manufacturing, and 18,000 MTA aluminium frame production in the next 2 years. Additionally, the company also plans to add 3 GW of ingot and water manufacturing capacity by 2028.

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