Indian Renewable Energy Development Agency Limited (IREDA) on March 30 said it has signed a facility agreement with Sumitomo Mitsui Banking Corporation (SMBC) to raise external commercial borrowings (ECBs) worth ¥28 billion (JPY).
The facility, arranged through SMBC’s Singapore branch acting as mandated lead arranger and bookrunner, includes a greenshoe option of ¥12 billion. The borrowing is structured as a five-year unsecured loan, aimed at strengthening IREDA’s funding base to support its renewable energy financing activities.
The company said the agreement was executed on March 30, with the loan yet to be drawn down. The transaction does not involve any related-party elements, according to the regulatory disclosure.
The ECB facility comes as IREDA continues to scale up its lending operations in line with India’s clean energy transition. The state-run financier has been actively tapping multiple funding avenues to support growing demand for renewable energy projects.
Last week, IREDA declared an interim dividend of ₹0.60 per equity share for FY26, with April 2 fixed as the record date. The company has also reported strong financial performance in recent quarters, with net profit rising 37.5% year-on-year to ₹584.9 crore in Q3 FY26, while revenue from operations grew 38% to ₹2,140 crore.
Its loan book expanded 28% year-on-year to ₹87,975 crore, reflecting robust disbursement growth. The company had earlier indicated plans to raise up to ₹2,994 crore via a qualified institutional placement to further support its expansion.
Shares of IREDA ended at ₹108.80 on the NSE, down 4.82% ahead of the announcement.
