IREDA to take overseas borrowing route
In a filing before the stock exchanges, Indian Renewable Energy Development Agency (IREDA) said on Saturday that it will soon opt for raising up to US $ 300 million taking the overseas lending route.
K S Popli, Chairman of IREDA informed “We have already filed our application. We will be filing for medium-term note programme in London stock exchange as well as in Singapore stock exchange & raising USD 150-300 million on both the exchanges”.
Popli also said that his company will be raising around US $100 million during next 2 to 3 months.
It may be added here that during March, this year, the company had claimed that it would sanction Rs 13,000 crore for clean energy projects during the current financial year to secure nearly 20 percent of the loan share market.
Interestingly, IREDA has sanctioned nearly Rs 37,000 crore of credit for clean energy projects in India, so far.