Home / Business and Economy / IRFC Fuels Green Energy Growth with ₹4,200 Cr DVC Deal
IRFC Fuels Green Energy Growth with ₹4,200 Cr DVC Deal
28 Sep
Summary
- IRFC provides ₹4,200 crore term loan to DVC for renewable energy.
- Funding supports solar and battery storage projects in Jharkhand and West Bengal.
- This deal expands IRFC's financing into clean energy infrastructure.
Indian Railway Finance Corporation (IRFC) has entered into a significant ₹4,200 crore term loan agreement with Damodar Valley Corporation (DVC). This financing is earmarked to support a diverse portfolio of renewable energy projects situated across the states of Jharkhand and West Bengal.
The funding will specifically enhance DVC's capabilities in developing floating solar arrays, ground-mounted solar farms, and rooftop solar installations. Crucially, it also includes provisions for Battery Energy Storage Systems (BESS), bolstering grid stability and renewable energy integration.
This initiative leverages DVC's existing infrastructure, including land, reservoirs, and transmission networks. For IRFC, this agreement represents a strategic move to expand its long-term financing business into clean energy infrastructure, a sector vital for India's Net Zero Carbon Emissions goal by 2030.
The deal signifies IRFC's broadening focus beyond its traditional railway ecosystem to encompass national development priorities. Its financing portfolio now extends to renewable energy, power generation, metro rail, and logistics sectors.
