The Board of Directors of the Indian Renewable Energy Development Agency (IREDA) approved significant enhancements to its borrowing strategy. The borrowing limit for FY 2025-26 was increased from ₹30,800 Crore to ₹35,800 Crore. Furthermore, the Board sanctioned a massive ₹40,000 Crore market borrowing program for FY 2026-27, covering various debt instruments including bonds, term loans, and ECBs, based on market conditions.
IREDA Board Approves Enhanced Borrowing Limits
During its meeting held on Thursday, March 19, 2026, the Board of Directors of the Indian Renewable Energy Development Agency Limited (IREDA) approved key financial measures concerning resource mobilization to support the renewable energy sector.
Borrowing Plan Enhancement for FY 2025-26
The Board sanctioned an Enhancement of the Borrowing Plan for FY 2025-26. The aggregate borrowing limit has been raised from up to ₹30,800 Crore to up to ₹35,800 Crore. This total borrowing capacity allows for fundraising through multiple avenues, including Taxable Bonds, Sub-ordinated Tier-II Bonds, Perpetual Debt Instruments (PDI), Term loans from Banks and FIs, Lines of credit from international agencies, and External Commercial Borrowings (ECB).
Market Borrowing Programme for FY 2026-27
A substantial Market Borrowing programme up to ₹40,000 Crore has been approved for the subsequent fiscal year, FY 2026-27, excluding funds sourced under Extra Budgetary Resource (EBR).
The proposed fundraising methods under this program are extensive and designed to utilize various global and domestic financial instruments. These include Taxable Bonds, Green Taxable Bonds, Green Masala Bonds, Foreign currency bonds (USD/EUR/JPY), Bond ETFs, Term loans from Banks/FIs, and Public & private placement of Tax-free bonds, subject to Government allocation.
The plan also covers mobilization through instruments such as Commercial Papers, various short-term loans, and Foreign Currency Non-Resident (FCNR-B) Loans. Furthermore, the structure accommodates raising funds via various instruments denominated in foreign currency and Rupee-denominated borrowings, ensuring flexibility based on market conditions and funding requirements.
Policy Modification
In addition to the financial approvals, the Board also approved a Modification in the “Policy for Determination of Materiality of Events/Information for Disclosures to Stock Exchanges”. The updated policy has been hosted on the company’s official website.
The Board Meeting commenced at 04:30 PM and concluded at 06:35 PM on the same day.
Source: BSE
