IREDA and KfW sign Euro 200 million loan agreement
Indian Renewable Energy Development Agency (IREDA) and KfW have signed Euro 200 million loan agreement for renewable energy projects financing in India
PSU Watch - December 20, 2019
New Delhi: KfW, a German state-owned development bank, and Indian Renewable Energy Development Agency Limited (IREDA) have signed the 7th Line of Credit (LoC) for Euro 200 million (in equivalent USD 222.82 million) on December 16, 2019, in New Delhi. The line of credit is for a tenure of 15 years with a grace period of three years, and it will be utilized by IREDA for financing Renewable Energy projects in India. This LoC is secured by the sovereign guarantee from the government. The loan agreement for availing the LoC of Euro 200 million from KfW was signed by IREDA's Chairman & Managing Director (CMD) Praveen Kumar and KfW's Director Dr Christoph Kessler in the presence of KfW's Principal Country Manager Jochen Saleth, IREDA's Director (Finance) SK Bhargava, IREDA's Director (Technical) Chintan Shah and other senior officials.