New Delhi: IREDA Global Green Energy Finance IFSC Limited, a wholly owned subsidiary of Indian Renewable Energy Development Agency Limited (IREDA), has secured its inaugural international credit rating from CareEdge Global Ratings.

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The company has been assigned a Long-Term Foreign Currency Issuer Rating of ‘BBB+/Stable’, which is aligned with India’s sovereign rating, reflecting its strong credit profile and institutional backing.

According to the company, the rating factors in IGGEFIL’s close linkage with its parent organisation, IREDA, as well as its strategic role in strengthening the renewable energy financing ecosystem.

Commenting on the development, Pradip Kumar Das, Chairman of IGGEFIL and CMD of IREDA, said the rating will bolster the company’s global strategy and enhance its ability to tap international capital markets for clean energy financing.

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He added that the rating is expected to facilitate diversification of funding sources while helping reduce borrowing costs, thereby supporting the expansion of green energy financing initiatives.

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