French dev agency extends LoC of Euro 100 m for renewable energy projects
Updated: May 23, 2014 10:56:52am
New Delhi, May 23 (KNN) The Agence Française de Développement (AFD, or French Development Agency) has extended a Line of Credit (LoC) of Euro 100 million to Indian Renewable Energy Development Agency Limited (IREDA) to be utilized financing renewable energy efficiency projects in India.
The Line of Credit is being extended for tenure of 15 years and without any guarantee from Government of India, according to an official notification from the Ministry of New and Renewable Energy.
The Agreement for availing the LoC of Euro 100 million from AFD was signed by Chairman and Managing Director, IREDA, K S Popli and Director of AFD’s Regional Office in New Delhi, Aude Flogny in the presence of senior officials of MNRE and IREDA.
Developing renewable energy sources helps address environmental concerns and also improves energy security and spurs regional economic development.
The agreement signed today will help in supporting the Government of India’s focus on a low carbon growth strategy for power generation in India.
IREDA is a dedicated financing institution for financing RE projects under the aegis of Ministry of New and Renewable Energy (MNRE). It has till date disbursed more than Rs 14,550 crores for RE projects and has total loan portfolio of over Rs 8200 crores.
It has been raising resources from various bilateral / multilateral agencies as also from domestic sources through both taxable and tax-free bonds for providing long term finance on competitive terms and conditions. (KNN/ES)
The Line of Credit is being extended for tenure of 15 years and without any guarantee from Government of India, according to an official notification from the Ministry of New and Renewable Energy.
The Agreement for availing the LoC of Euro 100 million from AFD was signed by Chairman and Managing Director, IREDA, K S Popli and Director of AFD’s Regional Office in New Delhi, Aude Flogny in the presence of senior officials of MNRE and IREDA.
Developing renewable energy sources helps address environmental concerns and also improves energy security and spurs regional economic development.
The agreement signed today will help in supporting the Government of India’s focus on a low carbon growth strategy for power generation in India.
IREDA is a dedicated financing institution for financing RE projects under the aegis of Ministry of New and Renewable Energy (MNRE). It has till date disbursed more than Rs 14,550 crores for RE projects and has total loan portfolio of over Rs 8200 crores.
It has been raising resources from various bilateral / multilateral agencies as also from domestic sources through both taxable and tax-free bonds for providing long term finance on competitive terms and conditions. (KNN/ES)
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