IRFC has signed a ₹4,200 crore loan agreement with Damodar Valley Corporation (DVC) to finance renewable energy projects across Jharkhand and West Bengal.
Indian Railway Finance Corporation (IRFC) has signed a ₹4,200 crore loan agreement with Damodar Valley Corporation (DVC) to finance renewable energy projects across Jharkhand and West Bengal.
The financing will support DVC’s portfolio of floating solar, ground-mounted solar, rooftop solar and Battery Energy Storage System (BESS) projects.
The projects will leverage DVC’s existing land, reservoirs and transmission infrastructure.
₹4,200 Crore Loan Agreement to Fund Renewable Energy Projects
The ₹4,200 crore loan agreement will provide long-term financing for DVC’s renewable energy portfolio.
The projects cover multiple clean energy technologies, including floating solar, ground-mounted solar and rooftop solar.
The financing will also support Battery Energy Storage System projects.
The initiative is expected to strengthen renewable energy infrastructure across Jharkhand and West Bengal.
IRFC and DVC Sign Renewable Energy Financing Deal
The agreement was signed in New Delhi in the presence of senior officials from both organisations.
The officials included Manish Kumar, Member (Finance), DVC, and Manoj Kumar Dubey, Chairman and Managing Director, IRFC.
The transaction marks a step in IRFC’s diversification into clean energy infrastructure while leveraging its established capabilities in long-term financing.
The company said the financing remains aligned with the broader railway ecosystem and the clean energy requirements associated with Indian Railways.
IRFC Expands Clean Energy Financing Portfolio
“Renewable energy is no longer peripheral to the Railways; it is at the core of Indian Railways’ journey towards Net Zero Carbon Emissions by 2030. Through this Rs 4,200 crore financing to DVC, IRFC is extending its long-term financing capability to the clean energy infrastructure that will power India’s future,” Dubey said.
“This is IRFC 2.0 in action—strategic diversification that remains firmly connected to the Railways ecosystem and to the nation’s larger development priorities,” he added.
Dubey said the partnership with DVC demonstrates IRFC’s ability to provide long-term capital for renewable energy infrastructure supporting the Railways’ growing energy requirements and contributing to a sustainable energy ecosystem.
DVC Renewable Energy Projects to Use Existing Infrastructure
DVC will leverage its existing land, reservoirs and transmission infrastructure for the renewable energy projects.
The combination of solar generation and battery storage is expected to support the development of a broader clean energy portfolio.
The ₹4,200 crore loan agreement also reflects IRFC’s expanding role in financing infrastructure beyond its traditional railway-focused portfolio.
Source: PSU Watch
