IREDA’s subsidiary, IREDA Global Green Energy Finance IFSC Ltd. (IGGEFIL), has sanctioned its first international green energy loan. The loan, totaling USD 22.5 million, will support Swarna Solar Limited (SSL) in developing a 100 MW Photovoltaic Solar Power Plant in Zambia. This marks a significant step for IGGEFIL in expanding India’s green financing internationally and promoting sustainable energy development.
IGGEFIL’s Landmark Loan
IREDA Global Green Energy Finance IFSC Ltd. (IGGEFIL), a subsidiary of Indian Renewable Energy Development Agency Ltd. (IREDA), has approved its first international loan. The decision was made during a Board meeting held in New Delhi on January 16, 2026.
Project Details
The loan amount is USD 22.5 million and will be extended to Swarna Solar Limited (SSL). The funds are earmarked for developing a 100 MW Photovoltaic Solar Power Plant. The plant will be located in the Serenje District of the Central Province of Zambia.
Strategic Importance
According to Shri Pradip Kumar Das, CMD of IREDA and Chairman of IGGEFIL, this loan signifies a crucial step for IREDA to become a global catalyst in clean energy financing. He highlighted that IGGEFIL’s presence at GIFT City enables leveraging international capital to facilitate renewable energy development in India and worldwide. Supporting the Zambian solar project demonstrates a commitment to sustainable growth beyond national borders, aligning with the Indian government’s vision for global renewable energy leadership.
Source: BSE
